Vanguard Group Inc. Has $53.93 Million Stake in Greenlight Reinsurance, Ltd. (GLRE)
Vanguard Group Inc. increased its position in Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,440,399 shares of the financial services provider’s stock after buying an additional 149,781 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Greenlight Reinsurance worth $53,933,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Greenlight Reinsurance by 9.7% in the fourth quarter. State Street Corp now owns 631,636 shares of the financial services provider’s stock worth $14,398,000 after buying an additional 55,606 shares in the last quarter. Norges Bank bought a new stake in shares of Greenlight Reinsurance during the fourth quarter worth about $6,623,000. Moon Capital Management LLC increased its stake in shares of Greenlight Reinsurance by 5.7% in the first quarter. Moon Capital Management LLC now owns 68,700 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 3,705 shares in the last quarter. AXA bought a new stake in shares of Greenlight Reinsurance during the first quarter worth about $375,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Greenlight Reinsurance by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 211,918 shares of the financial services provider’s stock worth $4,684,000 after buying an additional 7,591 shares in the last quarter. 47.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Greenlight Reinsurance, Ltd. (NASDAQ GLRE) traded up 0.110% during midday trading on Wednesday, reaching $22.775. The company had a trading volume of 23,183 shares. Greenlight Reinsurance, Ltd. has a one year low of $19.25 and a one year high of $24.10. The firm has a market capitalization of $850.44 million, a P/E ratio of 16.326 and a beta of 0.77. The company has a 50 day moving average price of $21.13 and a 200-day moving average price of $21.56.
Greenlight Reinsurance (NASDAQ:GLRE) last issued its earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.04. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. The business had revenue of $121.48 million for the quarter, compared to analysts’ expectations of $139.90 million. On average, analysts anticipate that Greenlight Reinsurance, Ltd. will post $0.80 EPS for the current fiscal year.
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GLRE has been the topic of a number of analyst reports. ValuEngine downgraded Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised Greenlight Reinsurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub downgraded Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, TheStreet downgraded Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th.
In other Greenlight Reinsurance news, Director Leonard R. Goldberg sold 1,659 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $22.75, for a total transaction of $37,742.25. Following the sale, the director now owns 170,021 shares of the company’s stock, valued at approximately $3,867,977.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 3,257 shares of company stock worth $71,131 in the last three months. Insiders own 21.81% of the company’s stock.
Greenlight Reinsurance Company Profile
Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.
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