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Montpelier Re Holdings (NYSE:MRH) dropped 4.1% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings, AnalystRatings.Net reports. The stock traded as low as $29.50 and last traded at $30.19, with a volume of 550,759 shares changing hands. The stock had previously closed at $31.49.

The company reported $0.76 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.99 by $0.23. During the same quarter in the prior year, the company posted $0.93 earnings per share.

A number of research firms have recently commented on MRH. Analysts at Barclays raised their price target on shares of Montpelier Re Holdings from $28.00 to $29.00 in a research note on Monday, June 30th. They now have an “underweight” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Montpelier Re Holdings in a research note on Friday, May 23rd. They now have a $38.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Montpelier Re Holdings in a research note on Tuesday, May 13th. They now have a $38.00 price target on the stock, up previously from $37.00. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.38.

In other Montpelier Re Holdings news, major shareholder Re Holdings Ltd Montpelier acquired 10,900 shares of Montpelier Re Holdings stock on the open market in a transaction dated Wednesday, July 23rd. The stock was purchased at an average price of $19.90 per share, for a total transaction of $216,910.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

The stock has a 50-day moving average of $31.88 and a 200-day moving average of $30.09. The company has a market cap of $1.393 billion and a P/E ratio of 8.54.

Montpelier Re Holdings Ltd. through its subsidiaries in Bermuda, the United States, the United Kingdom and Switzerland, provides customized and insurance and reinsurance solutions to the global market.

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