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Saudi Re hits highest price since debut
29/08/2024
Argaam Exclusive
AI Summary
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Shares of Saudi Reinsurance Co. (Saudi Re) hit an all-time high today, Aug. 29, at SAR 41.25.
The stock rose 0.3% today to SAR 39.70.
| Year High (SAR) | Year Low (SAR) |
| 28.14 | 10.71 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 28.14 | 3.29 |
With today’s hike, the stock has gained more than 110% since the beginning of 2024.
Market Data :
| Open | 26.88 |
| Low | 26.80 |
| High | 27.10 |
| Previous Close | 26.98 |
| Change (3M) | 6.25 % |
| Change (6M) | 0.37 % |
| Market Value | 4,564.49 |
| Avg. Volume (3M) | 607,752.17 |
| Avg. Turnover (3M) | 16,064,637.16 |
| Avg. Transaction (3M) | 2,451.33 |
| Change(12M) | (7.40 %) |
| YTD | 0.22 % |
Saudi Re has tweaked its capital several times since listing on the Saudi Exchange (Tadawul), as shown below:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2025 | Bonus Shares | 1,698.10 | 46.60% |
| 2024 | Private Offering | 1,158.30 | 30.00% |
| 2022 | Right Issue Cancelled | 1,336.50 | 50.00% |
| 2021 | Bonus Shares | 891.00 | 10.00% |
| 2018 | Bonus Shares | 810.00 | (19.00%) |
| 2008 | IPO | 1,000.00 | 66.67% |
Overview :
Established in 2007 as a Saudi joint-stock company under the name “Saudi Reinsurance Cooperative Co.” with capital of SAR 1 billion, the firm was converted into a public joint-stock company listed on the Main Market (TASI) the following year. The entity secured a license from the Saudi Central Bank (SAMA) to conduct reinsurance activities in 2009, later expanding its scope with a license for life reinsurance. In 2021, the company was rebranded to its current name, Saudi Reinsurance C...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 4,564.50 |
| Recurring EPS ( Riyal) (TTM) | 0.89 |
| Book Value (BV) ( Riyal) (Latest announcement) | 13.16 |
| Recurring P/E (TTM) | 30.16 |
| Price/Book | 2.04 |
| Dividend Yield (%) (Last Year) | - |
| Return on Average Assets (%) (TTM) | 3.51 |
| Return on Average Equity (%) (TTM) | 7.04 |
| Shares Outstanding (M) | 169.81 |
| Par Value ( Riyal) | 10.00 |
| Return on Market Cap (%) | 3.62 |
Calendar :
-
24 December
General Assembly
- -
26 December
IPO/ Subscription
- -
30 December
IPO/ Subscription
- -
12 May
General Assembly
- -
09 October
Ex-dividend Date
- -
09 October
General Assembly
-
Analyst Estimates :
24.56
Fair Average Price
1
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Overweight | Al Rajhi Capital | 21.28 | 24.56 | 15.38 % |
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