Zacks Investment Research lowered shares of Endurance Specialty Holdings Ltd. (NYSE:ENH) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning.
According to Zacks, “Endurance Specialty Holdings Ltd., through its wholly owned operating subsidiaries, is a global provider of property and casualty insurance and reinsurance. Through these subsidiaries, Endurance currently writes property per risk treaty reinsurance, property catastrophe reinsurance, casualty treaty reinsurance, property individual risks, casualty individual risks and other specialty lines. Endurance’s operating subsidiaries have been assigned a group rating of A- (Excellent) from A.M. Best, and headquarters are in Bermuda. “
A number of other research analysts have also recently issued reports on the stock. Langen Mcalenn cut shares of Endurance Specialty Holdings from a buy rating to a neutral rating in a research note on Tuesday, October 11th. Janney Montgomery Scott cut shares of Endurance Specialty Holdings from a buy rating to a neutral rating in a research note on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods cut shares of Endurance Specialty Holdings from an outperform rating to a market perform rating and lifted their price objective for the company from $80.00 to $93.00 in a research note on Friday, October 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Endurance Specialty Holdings has an average rating of Hold and a consensus price target of $82.00.
Shares of Endurance Specialty Holdings (NYSE:ENH) opened at 91.85 on Thursday. The firm’s 50 day moving average is $73.05 and its 200 day moving average is $67.75. The company has a market cap of $6.21 billion, a PE ratio of 18.88 and a beta of 0.78. Endurance Specialty Holdings has a 12 month low of $57.97 and a 12 month high of $92.18.
Endurance Specialty Holdings (NYSE:ENH) last announced its quarterly earnings data on Monday, August 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The business had revenue of $599.61 million for the quarter, compared to analysts’ expectations of $728.83 million. Endurance Specialty Holdings had a net margin of 14.86% and a return on equity of 6.29%. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. On average, equities analysts predict that Endurance Specialty Holdings will post $5.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. Endurance Specialty Holdings’s dividend payout ratio is currently 31.60%.
A number of hedge funds have recently modified their holdings of ENH. Advisor Group Inc. bought a new stake in shares of Endurance Specialty Holdings during the second quarter worth $105,000. State of Alaska Department of Revenue bought a new stake in shares of Endurance Specialty Holdings during the second quarter worth $120,000. First Manhattan Co. bought a new stake in shares of Endurance Specialty Holdings during the second quarter worth $136,000. PNC Financial Services Group Inc. raised its stake in shares of Endurance Specialty Holdings by 20.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,764 shares of the company’s stock worth $186,000 after buying an additional 460 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in shares of Endurance Specialty Holdings during the second quarter worth $202,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.
Endurance Specialty Holdings Company Profile
Endurance Specialty Holdings Ltd. is a holding company. The Company, through its operating subsidiaries in Bermuda, the United States and the United Kingdom, focuses on underwriting specialty lines of personal and commercial property, and casualty insurance and reinsurance. It operates through two segments: Insurance and Reinsurance.