Zacks Investment Research lowered shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) from a buy rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “

Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Greenlight Reinsurance from a hold rating to a buy rating in a research report on Friday, July 7th. BidaskClub raised shares of Greenlight Reinsurance from a sell rating to a hold rating in a research report on Wednesday, August 2nd.

Greenlight Reinsurance (NASDAQ GLRE) traded down 0.23% on Friday, reaching $21.65. 88,752 shares of the company traded hands. The stock has a market capitalization of $808.43 million, a price-to-earnings ratio of 15.52 and a beta of 0.75. The stock has a 50 day moving average of $21.93 and a 200-day moving average of $21.31. Greenlight Reinsurance has a 1-year low of $19.25 and a 1-year high of $24.10.

Greenlight Reinsurance (NASDAQ:GLRE) last posted its earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. The company had revenue of $121.48 million for the quarter, compared to analysts’ expectations of $139.90 million. On average, equities analysts anticipate that Greenlight Reinsurance will post $0.70 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Greenlight Reinsurance, Ltd. (GLRE) Downgraded by Zacks Investment Research to “Hold”” was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/09/30/greenlight-reinsurance-ltd-glre-downgraded-by-zacks-investment-research-to-hold.html.

In other Greenlight Reinsurance news, Director Leonard R. Goldberg sold 1,754 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total transaction of $39,921.04. Following the sale, the director now directly owns 170,021 shares in the company, valued at $3,869,677.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sherry Diaz sold 3,055 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $23.00, for a total transaction of $70,265.00. Following the sale, the insider now owns 33,500 shares in the company, valued at $770,500. The disclosure for this sale can be found here. Insiders sold 7,546 shares of company stock worth $170,771 in the last ninety days. 21.81% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Greenlight Reinsurance by 3.0% during the second quarter. Vanguard Group Inc. now owns 2,513,766 shares of the financial services provider’s stock worth $52,538,000 after purchasing an additional 73,367 shares during the period. Fiduciary Management Inc. WI increased its stake in Greenlight Reinsurance by 0.6% during the second quarter. Fiduciary Management Inc. WI now owns 2,065,537 shares of the financial services provider’s stock worth $43,170,000 after purchasing an additional 11,692 shares during the period. Dimensional Fund Advisors LP increased its stake in Greenlight Reinsurance by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,937,805 shares of the financial services provider’s stock worth $40,500,000 after purchasing an additional 145,473 shares during the period. Morgan Stanley increased its stake in Greenlight Reinsurance by 6.0% during the first quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock worth $19,879,000 after purchasing an additional 50,646 shares during the period. Finally, State Street Corp increased its stake in Greenlight Reinsurance by 4.9% during the second quarter. State Street Corp now owns 600,463 shares of the financial services provider’s stock worth $12,549,000 after purchasing an additional 28,255 shares during the period. Institutional investors own 45.43% 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.

Receive News & Ratings for Greenlight Reinsurance Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlight Reinsurance Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.