Partnerre (PRE) Announces Quarterly Results
Partnerre (NYSE:PRE) announced its earnings results on Monday. The company reported $2.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.32 by $0.09, Stock Ratings Network reports. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.40 billion.
Shares of Partnerre (NYSE:PRE) traded down 0.06% during mid-day trading on Monday, hitting $108.87. 425,855 shares of the company’s stock traded hands. Partnerre has a one year low of $85.98 and a one year high of $112.11. The stock has a 50-day moving average of $109.1 and a 200-day moving average of $103.7. The company has a market cap of $5.500 billion and a P/E ratio of 8.73.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.46%.
A number of research firms have recently commented on PRE. Analysts at JMP Securities raised their price target on shares of Partnerre from $115.00 to $124.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. On a related note, analysts at Zacks upgraded shares of Partnerre from a “neutral” rating to an “outperform” rating in a research note on Friday, July 18th. They now have a $130.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Partnerre from $117.00 to $119.00 in a research note on Monday, June 30th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $112.18.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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