Conduit (LON:CRE) Hits New 1-Year Low – Here’s What Happened

Conduit Holdings Limited (LON:CRE) shares reached a new 52-week low during trading on Monday . The company traded as low as GBX 324.50 ($4.20) and last traded at GBX 328 ($4.24), with a volume of 3514362 shares changing hands. The stock had previously closed at GBX 353.50 ($4.57).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 700 ($9.05) price objective on shares of Conduit in a research report on Wednesday, February 12th.

Conduit Trading Down 7.8 %

The business’s 50 day moving average price is GBX 411.60 and its two-hundred day moving average price is GBX 468.96. The stock has a market cap of £655.42 million, a P/E ratio of 3.07 and a beta of 0.52.

Conduit Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 3.54%. Conduit’s dividend payout ratio (DPR) is 26.41%.

Insider Transactions at Conduit

In other Conduit news, insider Neil David Eckert acquired 31,916 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were acquired at an average price of GBX 364 ($4.71) per share, with a total value of £116,174.24 ($150,212.36). Also, insider Trevor Carvey bought 10,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of GBX 384 ($4.97) per share, with a total value of £38,400 ($49,650.89). Corporate insiders own 6.19% of the company’s stock.

About Conduit

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.