KBW Maintains Market Perform on FPIC Insurance Group (FPIC)

KBW is out with its report today on FPIC Insurance Group FPIC, maintaining Market Perform.

In a note to clients, KBW writes, "The quarter was driven by strong underwriting results that included 16.7 points of favorable development. We are raising both our 2011 and 2012 estimates to $2.55. We maintain our Market Perform rating."

Shares of FPIC closed Wednesday at $37.76.