Market Runner: After Reaching All Time High, Is RenaissanceRe Holdings Ltd.’s Near-Term Analysis Positive?

Market Runner: After Reaching All Time High, Is RenaissanceRe Holdings Ltd.'s Near Term Analysis Positive?

The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) reached all time high today, Oct, 13 and still has $150.19 target or 22.00% above today’s $123.11 share price. This indicates more upside for the $5.17B company. This technical setup was reported by Barchart.com. If the $150.19 PT is reached, the company will be worth $1.14 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 88,281 shares traded hands. RenaissanceRe Holdings Ltd. (NYSE:RNR) has risen 8.48% since March 10, 2016 and is uptrending. It has outperformed by 0.96% the S&P500.

Analysts await RenaissanceRe Holdings Ltd. (NYSE:RNR) to report earnings on November, 2. They expect $1.79 earnings per share, down 30.62% or $0.79 from last year’s $2.58 per share. RNR’s profit will be $75.17 million for 17.19 P/E if the $1.79 EPS becomes a reality. After $1.55 actual earnings per share reported by RenaissanceRe Holdings Ltd. for the previous quarter, Wall Street now forecasts 15.48% EPS growth.

RenaissanceRe Holdings Ltd. (NYSE:RNR) Ratings Coverage

Out of 6 analysts covering RenaissanceRe (NYSE:RNR), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. RenaissanceRe has been the topic of 9 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) has “Neutral” rating given on Monday, December 7 by Nomura. The firm has “Market Perform” rating given on Monday, July 11 by Wood. The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) earned “Sector Perform” rating by RBC Capital Markets on Thursday, February 4. The stock has “Mkt Perform” rating given by Bernstein on Wednesday, October 14. The firm has “Buy” rating given on Friday, April 8 by Citigroup. The rating was downgraded by Citigroup on Thursday, April 28 to “Neutral”.

According to Zacks Investment Research, “RENAISSANCERE Holdings Ltd. provides reinsurance and insurance coverage where the risk of natural catastrophe represents a significant component of the overall exposure. You’ll find information on our web-site about Renaissance Re as well as all of our other subsidiary companies and the nature of their businesses.”

Insitutional Activity: The institutional sentiment increased to 1 in 2016 Q2. Its up 0.09, from 0.91 in 2016Q1. The ratio increased, as 24 funds sold all RenaissanceRe Holdings Ltd. shares owned while 99 reduced positions. 21 funds bought stakes while 102 increased positions. They now own 38.27 million shares or 2.29% less from 39.17 million shares in 2016Q1.
Aqr Capital Management Lc last reported 328,030 shares in the company. Cibc Asset Mgmt holds 0.01% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 6,180 shares. Legal & General Grp Inc Public Limited Company owns 220,281 shares or 0.03% of their US portfolio. Tudor Investment Et Al, a Connecticut-based fund reported 22,310 shares. Janus Limited Liability reported 456,500 shares or 0.05% of all its holdings. Invesco reported 248,909 shares or 0.01% of all its holdings. Moreover, Johnson Grp has 0.01% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 440 shares. Ameritas Inv Inc reported 7,314 shares or 0.06% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) reported 10,829 shares or 0.02% of all its holdings. Martingale Asset Management L P last reported 152,987 shares in the company. Parametric Associate Ltd Limited Liability Company has invested 0.04% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR). Archford Strategies Limited Liability has invested 0% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR). Moreover, Qualcomm De has 1.18% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 74,200 shares. State Street has 0.03% invested in the company for 2.48M shares. Pine River Capital Mngmt L P holds 0.01% or 9,990 shares in its portfolio.

Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 14 insider sales for $4.62 million net activity. ODonnell Kevin also sold $344,430 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares. 1,500 shares were sold by Todd Rider Fonner, worth $175,140. 2,000 shares with value of $240,000 were sold by BRANAGAN IAN D on Friday, September 2. $360,000 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) was sold by Weinstein Stephen Howard on Friday, September 2.

More important recent RenaissanceRe Holdings Ltd. (NYSE:RNR) news were published by: Businesswire.com which released: “A.M. Best Affirms Ratings of RenaissanceRe Holdings Ltd. and Its Subsidiaries” on August 19, 2016, also Nasdaq.com published article titled: “RenaissanceRe Holdings Ltd. (RNR) Ex-Dividend Date Scheduled for September 13 …”, Businesswire.com published: “RenaissanceRe Holdings Ltd. to Acquire Platinum Underwriters in $1.9 Billion …” on November 24, 2014. More interesting news about RenaissanceRe Holdings Ltd. (NYSE:RNR) was released by: Reuters.com and their article: “BRIEF-Renaissancere Holdings announces executive management changes” with publication date: July 12, 2016.

RNR Company Profile

RenaissanceRe Holdings Ltd., incorporated on June 7, 1993, provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s divisions include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit. Specialty Reinsurance includes specialty reinsurance and certain specialty joint ventures managed by its ventures unit. Lloyd’s includes reinsurance and insurance business written through RenaissanceRe Syndicate 1458 (Syndicate 1458).

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