Conduit (LON:CRE) Hits New 12-Month Low – Here’s What Happened

Conduit Holdings Limited (LON:CRE) reached a new 52-week low during trading on Thursday . The company traded as low as GBX 354.50 ($4.61) and last traded at GBX 357.88 ($4.66), with a volume of 978579 shares changing hands. The stock had previously closed at GBX 371.50 ($4.83).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 700 ($9.11) price objective on shares of Conduit in a research report on Wednesday, February 12th.

Conduit Stock Down 3.3 %

The business has a 50 day moving average price of GBX 426.23 and a 200 day moving average price of GBX 477.69. The stock has a market cap of £722.36 million, a P/E ratio of 3.39 and a beta of 0.52.

Conduit Dividend Announcement

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

Insider Transactions at Conduit

In related news, insider Trevor Carvey acquired 10,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of GBX 384 ($5.00) per share, for a total transaction of £38,400 ($49,954.47). 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.