Hannover Ruck (OTCMKTS:HVRRY) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Hannover Ruck SE (OTCMKTS:HVRRY) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $47.57 and traded as high as $49.66. Hannover Ruck shares last traded at $49.66, with a volume of 7,668 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Hannover Ruck from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Berenberg Bank raised Hannover Ruck to a “strong-buy” rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Hannover Ruck Stock Performance

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $35.98 billion, a price-to-earnings ratio of 12.31 and a beta of 0.20. The stock’s fifty day simple moving average is $47.68 and its 200-day simple moving average is $48.56.

Hannover Ruck (OTCMKTS:HVRRY) last posted its quarterly earnings results on Wednesday, August 12th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $7.43 billion during the quarter, compared to the consensus estimate of $7.23 billion. Hannover Ruck had a net margin of 9.33% and a return on equity of 18.15%. Analysts predict that Hannover Ruck SE will post 4.45 EPS for the current year.

About Hannover Ruck

Hannover Rück (OTCMKTS: HVRRY), commonly known as Hannover Re, is a global reinsurance group headquartered in Hannover, Germany. The company underwrites treaty and facultative reinsurance across a broad spectrum of risks, including property & casualty and life & health lines. Its product suite encompasses traditional proportional and non?proportional treaty contracts, facultative placements, structured reinsurance, retrocession, and capital market–linked solutions such as insurance?linked securities, tailored to transfer and manage insurance risk for primary insurers and other reinsurers.

Founded in the 1960s, Hannover Re has developed into one of the major international reinsurers, building a presence across Europe, the Americas, Asia?Pacific and other global markets.