Montpelier Re Holdings Rating Reiterated by Zacks (MRH)
Montpelier Re Holdings (NYSE:MRH)‘s stock had its “outperform” rating restated by Zacks in a report released on Thursday. They currently have a $35.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 18.12% from the company’s current price.
Zacks’ analyst wrote, “Montpelier’s second-quarter earnings per share missed the Zacks Consensus Estimate and year-ago earnings largely due to lower underwriting income. However, the quarter witnessed solid contribution from Lloyd’s and Collateralized Re segments, as well as benefit of prior-period development. A lower underwriting income led to deterioration in combined ratio. Net investment income continued to decline. Montpelier remains well positioned due to its increased exposure in the property catastrophe lines of business, focus on underwriting operations, augmenting capital flexibility, and strong competitive position. Moreover, the company remains committed to enhancing its shareholder value. It continuously engages in share buyback. It also scores strongly with credit rating agencies. We thus retain our Outperform rating on the stock. “
Several other analysts have also recently commented on the stock. 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 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. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Montpelier Re Holdings from $30.50 to $32.50 in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.63.
Montpelier Re Holdings (NYSE:MRH) traded up 0.03% on Thursday, hitting $29.51. 278,774 shares of the company’s stock traded hands. Montpelier Re Holdings has a one year low of $24.38 and a one year high of $32.63. The stock’s 50-day moving average is $31.76 and its 200-day moving average is $30.10. The company has a market cap of $1.370 billion and a P/E ratio of 8.00.
Montpelier Re Holdings (NYSE:MRH) last released its earnings data on Monday, July 28th. 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. Analysts expect that Montpelier Re Holdings will post $3.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%.
In other Montpelier Re Holdings news, major shareholder Re Holdings Ltd Montpelier bought 10,900 shares of Montpelier Re Holdings stock on the open market in a transaction dated Wednesday, July 23rd. The shares were purchased at an average cost of $19.90 per share, with a total value of $216,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
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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