Partnerre Reaches New 52-Week High at $112.25 (PRE)
Shares of Partnerre (NYSE:PRE) reached a new 52-week high during mid-day trading on Friday , Stock Ratings Network reports. The stock traded as high as $112.25 and last traded at $112.15, with a volume of 90,530 shares changing hands. The stock had previously closed at $111.35.
A number of analysts have recently weighed in on PRE shares. 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 given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $113.36.
The stock’s 50-day moving average is $108.6 and its 200-day moving average is $105.2. The company has a market cap of $5.550 billion and a P/E ratio of 5.24.
Partnerre (NYSE:PRE) last announced its earnings results on Monday, July 28th. The company reported $2.41 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.90 earnings per share. Partnerre’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Partnerre will post $11.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, August 14th.
In other Partnerre news, Director Remy Sautter sold 10,556 shares of Partnerre stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $110.25, for a total transaction of $1,163,799.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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