American Century Companies Inc. Buys 59,787 Shares of Greenlight Capital Re, Ltd. $GLRE

Key Points

• American Century Companies Inc. increased its stake in Greenlight Capital Re, Ltd. by 12.7%, owning approximately 1.53% of the company valued at $7.18 million.
• Insiders have sold shares recently, with Directors Ian Isaacs and Thomas James Curnock reducing their positions by 15.39% and 6.01%, respectively.
• Wall Street analysts downgraded Greenlight Capital Re from a "buy" rating to a "hold", reflecting potential concerns about the company's performance.

American Century Companies Inc. increased its stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,547 shares of the financial services provider's stock after purchasing an additional 59,787 shares during the quarter. American Century Companies Inc. owned about 1.53% of Greenlight Capital Re worth $7,175,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Greenlight Capital Re by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,112,254 shares of the financial services provider's stock worth $29,571,000 after purchasing an additional 18,533 shares during the period. Private Management Group Inc. lifted its holdings in Greenlight Capital Re by 11.2% in the 1st quarter. Private Management Group Inc. now owns 1,034,365 shares of the financial services provider's stock valued at $14,016,000 after acquiring an additional 103,886 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Greenlight Capital Re by 88.5% in the 1st quarter. CWA Asset Management Group LLC now owns 677,566 shares of the financial services provider's stock valued at $9,181,000 after acquiring an additional 318,047 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Greenlight Capital Re by 13.3% in the 4th quarter. Ameriprise Financial Inc. now owns 622,743 shares of the financial services provider's stock valued at $8,718,000 after acquiring an additional 73,317 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Greenlight Capital Re by 0.9% in the 4th quarter. Deutsche Bank AG now owns 329,979 shares of the financial services provider's stock valued at $4,620,000 after acquiring an additional 3,060 shares during the last quarter. Institutional investors and hedge funds own 41.52% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Activity at Greenlight Capital Re

In related news, Director Ian Isaacs sold 13,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total value of $193,960.00. Following the completion of the sale, the director owned 71,484 shares of the company's stock, valued at approximately $1,066,541.28. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas James Curnock sold 11,500 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $12.93, for a total value of $148,695.00. Following the completion of the sale, the insider directly owned 179,832 shares of the company's stock, valued at approximately $2,325,227.76. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.55% of the company's stock.

Greenlight Capital Re Stock Down 1.8%

Shares of GLRE traded down $0.23 during trading hours on Friday, reaching $12.89. The company's stock had a trading volume of 82,705 shares, compared to its average volume of 104,749. The firm has a market cap of $440.81 million, a price-to-earnings ratio of 12.05 and a beta of 0.67. Greenlight Capital Re, Ltd. has a 1-year low of $12.14 and a 1-year high of $15.82. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $13.40 and a two-hundred day moving average of $13.54.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its earnings results on Monday, August 4th. The financial services provider reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.36. The company had revenue of $179.63 million for the quarter. Greenlight Capital Re had a return on equity of 5.75% and a net margin of 5.37%.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.