Berenberg Bank Reaffirms “Buy” Rating for Conduit (LON:CRE)

Berenberg Bank reissued their buy rating on shares of Conduit (LON:CRE) in a report issued on Monday morning,London Stock Exchange reports. They currently have a GBX 700 ($9.04) target price on the stock.

Conduit Stock Down 5.8 %

LON:CRE opened at GBX 333 ($4.30) on Monday. The firm has a market capitalization of £669.49 million, a P/E ratio of 3.14 and a beta of 0.52. Conduit has a twelve month low of GBX 316 ($4.08) and a twelve month high of GBX 549.74 ($7.10). The company has a fifty day moving average of GBX 409.12 and a 200-day moving average of GBX 467.50.

Conduit Dividend Announcement

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

Insider Activity at Conduit

In other Conduit news, insider Neil David Eckert bought 31,916 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of GBX 364 ($4.70) per share, with a total value of £116,174.24 ($150,095.92). Also, insider Trevor Carvey bought 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of GBX 384 ($4.96) per share, for a total transaction of £38,400 ($49,612.40). 6.19% of the stock is currently owned by corporate insiders.

Conduit Company Profile

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.