TIAA CREF Investment Management LLC decreased its stake in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 76,459 shares of the financial services provider’s stock after selling 6,496 shares during the period. TIAA CREF Investment Management LLC’s holdings in Greenlight Reinsurance were worth $1,690,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new position in Greenlight Reinsurance during the first quarter valued at $213,000. UBS Asset Management Americas Inc. acquired a new position in Greenlight Reinsurance during the first quarter valued at $236,000. Advisory Services Network LLC acquired a new position in Greenlight Reinsurance during the first quarter valued at $237,000. Russell Investments Group Ltd. acquired a new position in Greenlight Reinsurance during the first quarter valued at $239,000. Finally, Parametric Portfolio Associates LLC boosted its position in Greenlight Reinsurance by 5.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,764 shares of the financial services provider’s stock valued at $304,000 after buying an additional 699 shares during the period. 47.75% of the stock is currently owned by institutional investors.
Greenlight Reinsurance, Ltd. (GLRE) opened at 23.05 on Thursday. The stock has a market cap of $860.71 million, a PE ratio of 16.52 and a beta of 0.77. The firm’s 50-day moving average price is $21.33 and its 200 day moving average price is $21.55. Greenlight Reinsurance, Ltd. has a 1-year low of $19.25 and a 1-year high of $24.10.
Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. The company had revenue of $121.48 million during the quarter, compared to the consensus estimate of $139.90 million. Equities research analysts expect that Greenlight Reinsurance, Ltd. will post $0.80 EPS for the current year.
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GLRE has been the topic of several research analyst reports. ValuEngine raised Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research raised Greenlight Reinsurance from a “sell” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Friday, August 4th. TheStreet cut Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. Finally, BidaskClub raised Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.
In other Greenlight Reinsurance news, Director Leonard R. Goldberg sold 1,659 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total value of $37,742.25. Following the completion of the sale, the director now directly owns 170,021 shares in the company, valued at $3,867,977.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 3,257 shares of company stock valued at $71,131 over the last 90 days. Corporate 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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