M?nchener R?ckversicherungs-Gesellschaft (OTCMKTS:MURGY) Shares Gap Up – Here’s What Happened

M?nchener R?ckversicherungs-Gesellschaft (OTCMKTS:MURGY)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $11.88, but opened at $12.42. M?nchener R?ckversicherungs-Gesellschaft shares last traded at $12.28, with a volume of 79,629 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of M?nchener R?ckversicherungs-Gesellschaft from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

M?nchener R?ckversicherungs-Gesellschaft Stock Performance

The firm has a market cap of $77.38 billion, a PE ratio of 4.90, a P/E/G ratio of 2.19 and a beta of 0.36. The firm has a 50-day moving average price of $11.79 and a two-hundred day moving average price of $11.70. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

M?nchener R?ckversicherungs-Gesellschaft (OTCMKTS:MURGY) last issued its earnings results on Friday, August 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.11. The business had revenue of $17.65 billion for the quarter, compared to analysts’ expectations of $18.75 billion. M?nchener R?ckversicherungs-Gesellschaft had a return on equity of 20.81% and a net margin of 11.49%. Research analysts forecast that M?nchener R?ckversicherungs-Gesellschaft will post 1.19 EPS for the current fiscal year.

M?nchener R?ckversicherungs-Gesellschaft Company Profile

Münchener Rückversicherungs-Gesellschaft AG, known internationally as Munich Re, is a Germany-based insurance group whose core business is reinsurance. Through its reinsurance operations, the company helps insurance providers manage and transfer risks arising from natural catastrophes, climate-related events, large property losses, liability claims, health expenses, and other complex exposures.

Munich Re also operates a primary insurance business through ERGO Group. ERGO provides insurance and related financial services to individuals and businesses, including life, health, property and casualty, legal expenses, and travel insurance.