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Montpelier Re Holdings Ltd. Message Board

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  • axpkocop axpkocop Dec 21, 2012 1:04 PM Flag

    Bought More Shares Today @ 22.22/sh

    I sold all these shares recently purchased between 22.22 and 21.21 today for 23.32 per share.

    Because:3rd Qrt Book is over 26 per share but we we will show a large loss this qrt due to hurricane Sandy. My guess is that our book value will drop to about 25 per share but we'll know a lot more in the next few weeks.

    "During the third quarter the Company repurchased 1,041,850 common shares at an average price of $21.11 per share ($22 million). Year-to-date, the Company has repurchased 5,391,589 shares at an average price of $19.97 per share ($108 million

    I'll look to continue buying if the stock trades at a 20% discount to book again. AIG and SYA currently trade at significant discounts to book so that's where I'm now looking.

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    • "Book value per share as of Dec 31, 2012, came in at $26.14, up 17% year over year.

      Share Repurchase and Dividend Update

      Montpelier Re spent $13 million to buyback 0.59 million common shares in the fourth quarter taking the total amount spent to repurchase 5.98 million shares in 2012 to $121 million."

      MRH is currently trading at over 25 which puts it at only a 5% discount to book value. I'll continue to look elsewhere until we see a sell-off because AIG and SYA sell at large discounts to book and share buybacks will only enhance that discount.

 
MRH
38.14+0.03(+0.08%)May 1 4:03 PMEDT