Bank of America Corp DE Decreases Stock Position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Bank of America Corp DE lowered its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,299 shares of the financial services provider’s stock after selling 2,083 shares during the period. Bank of America Corp DE’s holdings in Greenlight Capital Re were worth $648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in shares of Greenlight Capital Re by 13.3% during the 4th quarter. Ameriprise Financial Inc. now owns 622,743 shares of the financial services provider’s stock worth $8,718,000 after purchasing an additional 73,317 shares during the period. Castalian Partners LLC acquired a new stake in Greenlight Capital Re during the 4th quarter worth $1,698,000. PDT Partners LLC increased its position in Greenlight Capital Re by 5.1% during the fourth quarter. PDT Partners LLC now owns 22,655 shares of the financial services provider’s stock worth $317,000 after buying an additional 1,109 shares during the period. Northern Trust Corp grew its position in Greenlight Capital Re by 5.6% during the 4th quarter. Northern Trust Corp now owns 276,511 shares of the financial services provider’s stock worth $3,871,000 after purchasing an additional 14,629 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its stake in shares of Greenlight Capital Re by 374.4% in the 4th quarter. Aquatic Capital Management LLC now owns 3,795 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 2,995 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Greenlight Capital Re Stock Up 3.9%

Shares of NASDAQ GLRE opened at $14.96 on Tuesday. 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 firm’s 50-day moving average is $13.49 and its two-hundred day moving average is $13.74. The company has a market capitalization of $516.94 million, a PE ratio of 5.94 and a beta of 0.67.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.36. The firm had revenue of $247.95 million for the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%.

Insider Buying and Selling

In other Greenlight Capital Re news, insider Brian Joseph Oreilly sold 8,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $14.00, for a total transaction of $112,000.00. Following the transaction, the insider now directly owns 99,330 shares in the company, valued at $1,390,620. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick O’brien sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $13.22, for a total value of $66,100.00. Following the sale, the chief operating officer now directly owns 170,425 shares in the company, valued at approximately $2,253,018.50. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,500 shares of company stock valued at $279,200. 23.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a report on Friday, May 9th.

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.