After trading as high as $10.50 on May 18th, shares of QBE have dropped over 10% and reached $9.25 last week.
However, the share price got a lift on Thursday after UK Ratings agency, A.M. Best affirmed its Financial Strength Rating to A, and its Long-Term rating to a+.
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At Friday’s closing price of $9.41, QBE is trading at a P/E of 13 and the 22 cent dividend on August 24th places it on a yield of 5.10%.
Our ALGO engine triggered a sell signal on QBE at $10.30 on May 3rd. We expect that signal to reverse soon and will advise on entry levels in a future posting.
QBE
