Alterra Stock Hits New 52-Week High (ALTE)

NEW YORK ( TheStreet) -- Alterra Capital Holdings (Nasdaq: ALTE) hit a new 52-week high Wednesday as it is currently trading at $23.66, above its previous 52-week high of $23.65 with 160,137 shares traded as of 1:45 p.m. ET. Average volume has been 499,800 shares over the past 30 days.

Alterra has a market cap of $2.38 billion and is part of the financial sector and insurance industry. Shares are up 8.7% year to date as of the close of trading on Tuesday.

Alterra Capital Holdings Limited, through its subsidiaries, provides specialty insurance and reinsurance products to corporations, public entities, and property and casualty insurers principally in Bermuda, Ireland, the United States, and the United Kingdom. The company has a P/E ratio of 23.4, above the average insurance industry P/E ratio of 23 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Alterra as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Alterra Ratings Report.

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