Insider Buying: Montpelier Re Holdings major shareholder Acquires 7,400 Shares of Stock (MRH)
Montpelier Re Holdings (NYSE:MRH) major shareholder Re Holdings Ltd Montpelier bought 7,400 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $18.99 per share, with a total value of $140,526.00. Following the completion of the acquisition, the insider now directly owns 2,800 shares of the company’s stock, valued at approximately $53,172. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Montpelier Re Holdings (NYSE:MRH) traded up 0.81% on Friday, hitting $29.84. The stock had a trading volume of 304,740 shares. Montpelier Re Holdings has a 52 week low of $24.38 and a 52 week high of $32.63. The stock’s 50-day moving average is $31.36 and its 200-day moving average is $30.16. The company has a market cap of $1.378 billion and a price-to-earnings ratio of 5.82.
Montpelier Re Holdings (NYSE:MRH) last announced its earnings results 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 $3.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors 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 2.67%. The ex-dividend date of this dividend is Friday, September 26th.
A number of research firms have recently commented on MRH. Analysts at Deutsche Bank downgraded shares of Montpelier Re Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. They now have a $31.00 price target on the stock, down previously from $38.00. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Montpelier Re Holdings in a research note on Thursday, July 31st. They now have a $35.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $31.88.
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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