Bank of Montreal Can lowered its position in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,187 shares of the financial services provider’s stock after selling 225 shares during the quarter. Bank of Montreal Can’s holdings in Greenlight Reinsurance were worth $109,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GLRE. Karp Capital Management Corp purchased a new position in Greenlight Reinsurance during the first quarter valued at $213,000. UBS Asset Management Americas Inc. purchased a new position in Greenlight Reinsurance during the first quarter valued at $236,000. Russell Investments Group Ltd. purchased a new position in Greenlight Reinsurance during the first quarter valued at $239,000. Parametric Portfolio Associates LLC lifted its position in Greenlight Reinsurance by 5.4% during the first quarter. Parametric Portfolio Associates LLC now owns 13,764 shares of the financial services provider’s stock valued at $304,000 after buying an additional 699 shares during the period. Finally, AXA purchased a new position in Greenlight Reinsurance during the first quarter valued at $375,000. 45.43% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts have commented on the company. Zacks Investment Research raised Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, September 6th. ValuEngine lowered Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub raised Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.
Greenlight Reinsurance, Ltd. (NASDAQ GLRE) traded up 5.00% during trading on Monday, hitting $21.00. The stock had a trading volume of 134,024 shares. The stock’s 50-day moving average is $21.98 and its 200-day moving average is $21.39. The stock has a market capitalization of $784.16 million, a PE ratio of 15.05 and a beta of 0.75. Greenlight Reinsurance, Ltd. has a 52-week low of $19.25 and a 52-week high of $24.10.
Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, July 31st. The financial services provider reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.04. The firm had revenue of $121.48 million during the quarter, compared to analysts’ expectations of $139.90 million. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. On average, analysts predict that Greenlight Reinsurance, Ltd. will post $0.70 earnings per share for the current fiscal year.
In related news, Director Leonard R. Goldberg sold 1,754 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total transaction of $39,921.04. Following the sale, the director now directly owns 170,021 shares of the company’s stock, valued at $3,869,677.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leonard R. Goldberg sold 1,659 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total value of $37,742.25. Following the sale, the director now directly owns 170,021 shares in the company, valued at $3,867,977.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,546 shares of company stock worth $170,771. 21.81% of the stock is owned by corporate insiders.
Greenlight Reinsurance Company Profile
Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.
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