Platinum Underwriters Holdings CEO H Elizabeth Mitchell Unloads 107,573 Shares (PTP)
Platinum Underwriters Holdings (NYSE:PTP) CEO H Elizabeth Mitchell unloaded 107,573 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $61.00, for a total transaction of $6,561,953.00. Following the completion of the sale, the chief executive officer now directly owns 60,505 shares of the company’s stock, valued at approximately $3,690,805. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on PTP shares. Analysts at Keefe, Bruyette & Woods initiated coverage on shares of Platinum Underwriters Holdings in a research note to investors on Monday, October 14th. They set an “outperform” rating and a $67.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Platinum Underwriters Holdings from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 1st. They now have a $63.30 price target on the stock. Finally, analysts at TheStreet downgraded shares of Platinum Underwriters Holdings from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.43.
Shares of Platinum Underwriters Holdings (NYSE:PTP) traded up 0.80% during mid-day trading on Monday, hitting $61.39. 242,876 shares of the company’s stock traded hands. Platinum Underwriters Holdings has a 52 week low of $41.70 and a 52 week high of $61.51. The stock’s 50-day moving average is $59.53 and its 200-day moving average is $57.99. The company has a market cap of $1.759 billion and a price-to-earnings ratio of 6.49.
Platinum Underwriters Holdings (NYSE:PTP) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.37. The company had revenue of $154.20 million for the quarter, compared to the consensus estimate of $155.33 million. During the same quarter last year, the company posted $2.54 earnings per share. Platinum Underwriters Holdings’s revenue was down 16.2% compared to the same quarter last year.
Platinum Underwriters Holdings, Ltd. (NYSE:PTP) is a holding company.
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