KBW Reiterates Outperform on Meadowbrook Insurance Group (MIG)

KBW is out with its report today on Meadowbrook Insurance Group MIG, reiterating Outperform. In a note to clients, KBW writes, "Meadowbrook reported a 1Q11 beat on better than expected underwriting results and premium production. Normalized for $0.04/share of favorable reserve development, operating EPS beat our estimate by $0.07. We're maintaining our 2011 and 2012 estimates and our $12 target price. We continue to believe the stock is attractively priced and reiterate our Outperform rating." Shares of MIG closed Monday at $10.24.