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 report released 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 also recently 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 downgraded shares of Endurance Specialty Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Langen Mcalenn downgraded shares of Endurance Specialty Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $82.00.
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Endurance Specialty Holdings (NYSE:ENH) traded down 0.03% during midday trading on Thursday, reaching $91.78. 1,829,444 shares of the company were exchanged. Endurance Specialty Holdings has a 52-week low of $57.97 and a 52-week high of $92.18. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 18.87 and a beta of 0.78. The firm’s 50-day moving average price is $70.78 and its 200 day moving average price is $67.17.
Endurance Specialty Holdings (NYSE:ENH) last issued its quarterly earnings results on Monday, August 1st. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ 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 earned $599.61 million during the quarter, compared to the consensus estimate of $728.83 million. During the same period in the prior year, the company earned $1.76 EPS. Endurance Specialty Holdings’s revenue was up 30.9% on a year-over-year basis. Equities analysts predict that Endurance Specialty Holdings will post $5.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, September 14th. Endurance Specialty Holdings’s dividend payout ratio is presently 31.60%.
A number of hedge funds have recently bought and sold shares of the stock. Ifrah Financial Services Inc. raised its stake in Endurance Specialty Holdings by 0.7% in the second quarter. Ifrah Financial Services Inc. now owns 4,324 shares of the company’s stock worth $290,000 after buying an additional 30 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Endurance Specialty Holdings by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 18,137 shares of the company’s stock worth $1,218,000 after buying an additional 55 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Endurance Specialty Holdings by 1.9% in the second quarter. Clear Harbor Asset Management LLC now owns 4,139 shares of the company’s stock worth $278,000 after buying an additional 78 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Endurance Specialty Holdings by 0.3% in the second quarter. Alliancebernstein L.P. now owns 43,548 shares of the company’s stock worth $2,925,000 after buying an additional 150 shares in the last quarter. Finally, United Services Automobile Association increased its position in shares of Endurance Specialty Holdings by 2.5% in the second quarter. United Services Automobile Association now owns 6,210 shares of the company’s stock worth $417,000 after buying an additional 150 shares in the last quarter. 87.82% of the stock is owned by 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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