The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) reached all time high today, Oct, 18 and still has $202.49 target or 63.00% above today’s $124.23 share price. This indicates more upside for the $5.11 billion company. This technical setup was reported by Barchart.com. If the $202.49 PT is reached, the company will be worth $3.22B 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 31,655 shares traded hands. RenaissanceRe Holdings Ltd. (NYSE:RNR) has risen 8.61% since March 15, 2016 and is uptrending. It has outperformed by 3.13% the S&P500.
Analysts await RenaissanceRe Holdings Ltd. (NYSE:RNR) to report earnings on November, 2. They expect $1.79 EPS, down 30.62% or $0.79 from last year’s $2.58 per share. RNR’s profit will be $73.63 million for 17.35 P/E if the $1.79 EPS becomes a reality. After $1.55 actual EPS 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 rating was upgraded by Nomura to “Neutral” on Monday, December 7. The firm has “Neutral” rating by Citigroup given on Thursday, April 28. The rating was maintained by RBC Capital Markets on Thursday, February 4 with “Sector Perform”. The company was downgraded on Monday, July 11 by Wood. The stock has “Buy” rating given by Citigroup on Friday, April 8. The firm earned “Mkt Perform” rating on Wednesday, October 14 by Bernstein.
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 Q2 2016. 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.
Arga Lp holds 0.23% or 6,341 shares in its portfolio. National Bank & Trust Of Montreal Can holds 0.01% or 106,288 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 10,829 shares or 0.02% of the stock. Neville Rodie & Shaw Inc holds 0.04% or 2,700 shares in its portfolio. Vanguard Grp last reported 0.03% of its portfolio in the stock. Employees Retirement System Of Texas last reported 27,000 shares in the company. Toronto Dominion Retail Bank, a Ontario – Canada-based fund reported 237 shares. Moreover, Envestnet Asset Mgmt has 0% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 6,221 shares. Aviva Pcl owns 25,624 shares or 0.02% of their US portfolio. Allianz Asset Mngmt Ag reported 5,100 shares or 0% of all its holdings. Ameriprise Finance holds 0.01% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 119,581 shares. Prospector Partners Limited Liability Co reported 70,384 shares or 1.4% of all its holdings. Walleye Trading Ltd last reported 1,064 shares in the company. Commonwealth Savings Bank Of Aus owns 8,468 shares or 0.01% of their US portfolio. Alliancebernstein Lp last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 2, 2016, the stock had 0 insider purchases, and 14 insider sales for $4.62 million net activity. ODonnell Kevin sold 3,000 shares worth $360,840. 2,000 RenaissanceRe Holdings Ltd. (NYSE:RNR) shares with value of $234,640 were sold by BRANAGAN IAN D. Todd Rider Fonner had sold 1,500 shares worth $175,800 on Monday, August 1. 3,000 shares were sold by Weinstein Stephen Howard, worth $360,000.
More news for RenaissanceRe Holdings Ltd. (NYSE:RNR) were recently published by: Businesswire.com, which released: “A.M. Best Affirms Ratings of RenaissanceRe Holdings Ltd. and Its Subsidiaries” on August 19, 2016. Businesswire.com‘s article titled: “RenaissanceRe Holdings Ltd. to Acquire Platinum Underwriters in $1.9 Billion …” and published on November 24, 2014 is yet another important article.
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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