Insider Selling: Partnerre Director Sells 3,437 Shares of Stock (PRE)
Partnerre (NYSE:PRE) Director Remy Sautter sold 3,437 shares of the company’s stock on the open market in a transaction dated Thursday, August 21st. The shares were sold at an average price of $110.26, for a total transaction of $378,963.62. Following the completion of the sale, the director now directly owns 17,081 shares of the company’s stock, valued at approximately $1,883,351. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Partnerre (NYSE:PRE) traded down 0.75% on Friday, hitting $109.15. 72,393 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’s 50-day moving average is $108.4 and its 200-day moving average is $104.7. The company has a market cap of $5.424 billion and a price-to-earnings ratio of 5.17.
Partnerre (NYSE:PRE) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.32 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Partnerre will post $11.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors 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 2.44%. The ex-dividend date of this dividend is Thursday, August 14th.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “sell” rating on shares of Partnerre in a research note on Tuesday, August 5th. They now have a $95.00 price target on the stock, up previously from $91.00. Separately, analysts at RBC Capital raised their price target on shares of Partnerre from $110.00 to $117.00 in a research note on Thursday, July 31st. Finally, analysts at Nomura raised their price target on shares of Partnerre from $105.00 to $108.00 in a research note on Wednesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $113.36.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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