JPMorgan Chase & Co. Raises Stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

JPMorgan Chase & Co. grew its position in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 99.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,210 shares of the financial services provider's stock after purchasing an additional 48,564 shares during the period. JPMorgan Chase & Co. owned about 0.28% of Greenlight Capital Re worth $1,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLRE. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 17.3% in the fourth quarter. Private Management Group Inc. now owns 930,479 shares of the financial services provider's stock worth $13,027,000 after buying an additional 136,935 shares in the last quarter. State Street Corp boosted its stake in shares of Greenlight Capital Re by 1.1% in the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider's stock valued at $7,861,000 after purchasing an additional 6,319 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Greenlight Capital Re by 13.6% during the 4th quarter. American Century Companies Inc. now owns 469,760 shares of the financial services provider's stock valued at $6,577,000 after purchasing an additional 56,281 shares during the last quarter. Empowered Funds LLC raised its position in Greenlight Capital Re by 62.7% in the 4th quarter. Empowered Funds LLC now owns 108,739 shares of the financial services provider's stock worth $1,522,000 after purchasing an additional 41,887 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re in the third quarter worth $1,188,000. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Greenlight Capital Re news, insider Brian Joseph Oreilly sold 8,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $14.00, for a total value of $112,000.00. Following the completion of the sale, the insider now owns 99,330 shares in the company, valued at approximately $1,390,620. This trade represents a 7.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut Greenlight Capital Re from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th.

Greenlight Capital Re Trading Down 0.2 %

Greenlight Capital Re stock traded down $0.03 during trading hours on Thursday, reaching $13.09. The company had a trading volume of 8,486 shares, compared to its average volume of 89,868. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02. Greenlight Capital Re, Ltd. has a 12-month low of $11.95 and a 12-month high of $15.82. The company has a 50-day moving average price of $13.38 and a 200 day moving average price of $13.82. The firm has a market cap of $452.44 million, a price-to-earnings ratio of 5.20 and a beta of 0.66.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings results on Monday, March 10th. The financial services provider reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($1.40). Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The firm had revenue of $143.76 million for the quarter.

About Greenlight Capital Re

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.