The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) hit a new 52-week high and has $161.29 target or 31.00% above today’s $123.12 share price. The 6 months bullish chart indicates low risk for the $5.17B company. The 1-year high was reported on Oct, 13 by Barchart.com. If the $161.29 price target is reached, the company will be worth $1.60B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 70,344 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 $75.16 million for 17.20 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. $138 is the highest target while $115 is the lowest. The $120 average target is -2.53% below today’s ($123.12) stock price. RenaissanceRe has been the topic of 9 analyst reports since October 14, 2015 according to StockzIntelligence Inc. Wood downgraded RenaissanceRe Holdings Ltd. (NYSE:RNR) on Monday, July 11 to “Market Perform” rating. The firm earned “Sector Perform” rating on Thursday, February 4 by RBC Capital Markets. The firm earned “Buy” rating on Friday, April 8 by Citigroup. The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) has “Mkt Perform” rating given on Wednesday, October 14 by Bernstein. The stock has “Neutral” rating given by Nomura on Monday, December 7. On Thursday, April 28 the stock rating was downgraded by Citigroup 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 improved, 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.
Jacobs Levy Equity Management reported 19,784 shares or 0.05% of all its holdings. Moreover, Royal Financial Bank Of Canada has 0.01% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 74,047 shares. Johnson Invest Counsel Incorporated has 1.02% invested in the company for 263,462 shares. First Manhattan has 0.01% invested in the company for 20,342 shares. Bowling Mgmt Ltd Liability Co has invested 0.05% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR). D E Shaw And Inc has 0% invested in the company for 15,507 shares. Retirement Sys Of Alabama, a Alabama-based fund reported 55,589 shares. New York State Teachers Retirement System reported 36,100 shares or 0.01% of all its holdings. Franklin Resources holds 1.30 million shares or 0.08% of its portfolio. Jefferies Gru Lc owns 3,997 shares or 0% of their US portfolio. Swiss National Bank & Trust last reported 0.02% of its portfolio in the stock. Morgan Stanley, a New York-based fund reported 95,099 shares. Moreover, Parkwood Lc has 0.08% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 4,121 shares. Shelton Cap holds 3,920 shares or 0.04% of its portfolio. Kingdon Limited Liability reported 108,800 shares or 0.7% of all its holdings.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 14 insider sales for $4.62 million net activity. Another trade for 3,000 shares valued at $357,990 was made by ODonnell Kevin on Tuesday, October 4. Another trade for 1,500 shares valued at $172,815 was sold by Todd Rider Fonner. Another trade for 2,000 shares valued at $234,640 was made by BRANAGAN IAN D on Thursday, August 4. Another trade for 3,000 shares valued at $352,500 was made by Weinstein Stephen Howard on Friday, July 1.
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).
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.