Conduit’s (CRE) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Conduit (LON:CRE) in a report issued on Monday, MarketBeat reports. They currently have a GBX 700 ($9.09) target price on the stock.

Conduit Trading Down 1.9 %

CRE stock opened at GBX 338.50 ($4.40) on Monday. The company has a market cap of £680.55 million, a price-to-earnings ratio of 3.19 and a beta of 0.52. The firm has a 50-day moving average of GBX 404.43 and a two-hundred day moving average of GBX 464.84. Conduit has a 12 month low of GBX 316 ($4.10) and a 12 month high of GBX 549.74 ($7.14).

Conduit Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, April 17th. Stockholders 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 is presently 26.41%.

Insider Activity at Conduit

In other Conduit news, insider Trevor Carvey acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of GBX 384 ($4.99) per share, for a total transaction of £38,400 ($49,863.65). Also, insider Neil David Eckert bought 31,916 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of GBX 364 ($4.73) per share, with a total value of £116,174.24 ($150,856.04). Over the last quarter, insiders bought 111,916 shares of company stock valued at $39,257,424. 6.19% of the stock is owned by company insiders.

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.