Platinum Underwriters Holdings EVP Kenneth Kurtzman Unloads 10,200 Shares (PTP)
Platinum Underwriters Holdings (NYSE:PTP) EVP Kenneth Kurtzman sold 10,200 shares of the stock on the open market in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $63.06, for a total transaction of $643,212.00. Following the transaction, the executive vice president now directly owns 30,014 shares of the company’s stock, valued at approximately $1,892,683. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PTP has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.43.
Platinum Underwriters Holdings (NYSE:PTP) traded down 0.88% during mid-day trading on Thursday, hitting $62.19. 147,471 shares of the company’s stock traded hands. Platinum Underwriters Holdings has a 52 week low of $39.55 and a 52 week high of $63.60. The stock has a 50-day moving average of $60.42 and a 200-day moving average of $58.3. The company has a market cap of $1.736 billion and a P/E ratio of 6.69.
Platinum Underwriters Holdings (NYSE:PTP) last released its earnings data 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 in the previous year, the company posted $2.54 earnings per share. The company’s revenue for the quarter was down 16.2% on a year-over-year basis. On average, analysts predict that Platinum Underwriters Holdings will post $6.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, November 27th.
Platinum Underwriters Holdings, Ltd. (NYSE:PTP) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.