Insider Selling: Jan H. Holsboer Unloads 4,500 Shares of Partnerre Stock (PRE)
Partnerre (NYSE:PRE) Director Jan H. Holsboer unloaded 4,500 shares of Partnerre stock on the open market in a transaction dated Friday, May 9th. The shares were sold at an average price of $106.00, for a total transaction of $477,000.00. Following the completion of the sale, the director now directly owns 25,108 shares in the company, valued at approximately $2,661,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Partnerre (NYSE:PRE) opened at 106.29 on Tuesday. Partnerre has a one year low of $85.98 and a one year high of $107.34. The stock’s 50-day moving average is $103.1 and its 200-day moving average is $100.7. The company has a market cap of $5.369 billion and a price-to-earnings ratio of 8.52.
Partnerre (NYSE:PRE) last released its earnings data on Monday, April 28th. The company reported $3.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.80. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $3.39 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Partnerre will post $10.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, May 15th.
PRE has been the subject of a number of recent research reports. Analysts at BMO Capital Markets raised their price target on shares of Partnerre from $98.00 to $104.00 in a research note on Friday. Separately, analysts at Deutsche Bank reiterated a “sell” rating on shares of Partnerre in a research note on Thursday, May 1st. They now have a $91.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Partnerre from $115.00 to $125.00 in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $109.75.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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