Zacks Investment Research upgraded shares of Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) from a sell rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Blue Capital Holdings Ltd. is a reinsurance holding company. It offers collateralized reinsurance in the property catastrophe market. Blue Capital Holdings Ltd. is based in Bermuda. “

Blue Capital Reinsurance Holdings (NYSE:BCRH) opened at 18.40 on Monday. The stock has a market cap of $161.20 million, a PE ratio of 10.01 and a beta of 0.10. Blue Capital Reinsurance Holdings has a 12 month low of $17.22 and a 12 month high of $20.83. The company has a 50-day moving average of $19.26 and a 200-day moving average of $19.04.

Blue Capital Reinsurance Holdings (NYSE:BCRH) last announced its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $11.09 million. Blue Capital Reinsurance Holdings had a net margin of 38.93% and a return on equity of 8.84%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities analysts forecast that Blue Capital Reinsurance Holdings will post $1.77 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in BCRH. Aberdeen Asset Management PLC UK boosted its position in shares of Blue Capital Reinsurance Holdings by 17.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 457,513 shares of the insurance provider’s stock valued at $8,372,000 after buying an additional 68,414 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Blue Capital Reinsurance Holdings during the second quarter valued at $1,023,000. Goldman Sachs Group Inc. purchased a new position in shares of Blue Capital Reinsurance Holdings during the first quarter valued at $571,000. LSV Asset Management boosted its position in shares of Blue Capital Reinsurance Holdings by 20.4% in the first quarter. LSV Asset Management now owns 110,977 shares of the insurance provider’s stock valued at $2,141,000 after buying an additional 18,800 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Blue Capital Reinsurance Holdings by 153.7% in the second quarter. JPMorgan Chase & Co. now owns 27,436 shares of the insurance provider’s stock valued at $503,000 after buying an additional 16,621 shares during the last quarter. 40.10% of the stock is currently owned by hedge funds and other institutional investors.

About Blue Capital Reinsurance Holdings

Blue Capital Reinsurance Holdings Ltd. provides collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. The Company conducts its operations through its subsidiaries, including Blue Capital Re Ltd. (Blue Capital Re), which provides collateralized reinsurance, and Blue Capital Re ILS Ltd.

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