Endurance Specialty Holdings Ltd. (ENH) Cut to Strong Sell at Zacks Investment Research
Endurance Specialty Holdings Ltd. (NYSE:ENH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Endurance Specialty Holdings Ltd., through its wholly owned operating subsidiaries, is a global provider of property and casualty insurance and reinsurance. Through these subsidiaries, Endurance currently writes property per risk treaty reinsurance, property catastrophe reinsurance, casualty treaty reinsurance, property individual risks, casualty individual risks and other specialty lines. Endurance’s operating subsidiaries have been assigned a group rating of A- (Excellent) from A.M. Best, and headquarters are in Bermuda. “
Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods set a $80.00 price target on shares of Endurance Specialty Holdings and gave the company a “buy” rating in a report on Wednesday, August 3rd. Janney Montgomery Scott lowered shares of Endurance Specialty Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Langen Mcalenn lowered shares of Endurance Specialty Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Endurance Specialty Holdings presently has an average rating of “Hold” and an average target price of $82.00.
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Shares of Endurance Specialty Holdings (NYSE:ENH) traded down 0.03% during midday trading on Thursday, reaching $91.78. The company’s stock had a trading volume of 1,829,444 shares. The stock has a market capitalization of $6.20 billion, a PE ratio of 18.87 and a beta of 0.78. The company has a 50 day moving average price of $70.78 and a 200-day moving average price of $67.17. Endurance Specialty Holdings has a 52 week low of $57.97 and a 52 week high of $92.18.
Endurance Specialty Holdings (NYSE:ENH) last posted its quarterly earnings results on Monday, August 1st. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. Endurance Specialty Holdings had a net margin of 14.86% and a return on equity of 6.29%. The company had revenue of $599.61 million for the quarter, compared to analyst estimates of $728.83 million. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis. On average, equities research analysts expect that Endurance Specialty Holdings will post $5.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, September 14th. Endurance Specialty Holdings’s payout ratio is currently 31.60%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Endurance Specialty Holdings by 82.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,458,181 shares of the company’s stock worth $95,278,000 after buying an additional 660,642 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Endurance Specialty Holdings during the second quarter worth $29,355,000. Victory Capital Management Inc. raised its position in shares of Endurance Specialty Holdings by 52.5% in the second quarter. Victory Capital Management Inc. now owns 679,875 shares of the company’s stock worth $45,661,000 after buying an additional 233,950 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Endurance Specialty Holdings by 4.9% in the second quarter. Vanguard Group Inc. now owns 4,499,522 shares of the company’s stock worth $302,188,000 after buying an additional 210,401 shares in the last quarter. Finally, Hancock Holding Co. bought a new position in shares of Endurance Specialty Holdings during the first quarter worth $13,056,000. 87.82% of the stock is currently owned by hedge funds and other institutional investors.
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a holding company. The Company, through its operating subsidiaries in Bermuda, the United States and the United Kingdom, focuses on underwriting specialty lines of personal and commercial property, and casualty insurance and reinsurance. It operates through two segments: Insurance and Reinsurance.
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