RenaissanceRe Holdings Ltd. (RNR) Downgraded to Hold at Deutsche Bank AG
Several other analysts also recently commented on the company. Goldman Sachs Group Inc. raised RenaissanceRe Holdings from a sell rating to a neutral rating and increased their price objective for the stock from $101.00 to $125.00 in a research note on Tuesday, November 15th. Zacks Investment Research raised RenaissanceRe Holdings from a sell rating to a hold rating in a research note on Friday, October 7th. Finally, Keefe, Bruyette & Woods increased their price objective on RenaissanceRe Holdings from $130.00 to $134.00 and gave the stock a market perform rating in a research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, RenaissanceRe Holdings currently has a consensus rating of Hold and a consensus target price of $124.10.
RenaissanceRe Holdings (NYSE:RNR) traded up 0.21% during mid-day trading on Monday, reaching $131.37. The company had a trading volume of 43,836 shares. RenaissanceRe Holdings has a 12-month low of $107.27 and a 12-month high of $132.43. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.17 and a beta of 0.46. The stock has a 50-day moving average of $124.71 and a 200 day moving average of $118.65.
RenaissanceRe Holdings (NYSE:RNR) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.30. The business had revenue of $442.47 million for the quarter, compared to analyst estimates of $488.38 million. RenaissanceRe Holdings had a return on equity of 8.54% and a net margin of 30.02%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, analysts expect that RenaissanceRe Holdings will post $6.48 EPS for the current year.
In other news, insider Aditya Dutt sold 599 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $125.00, for a total value of $74,875.00. Following the completion of the transaction, the insider now directly owns 51,049 shares of the company’s stock, valued at $6,381,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Odonnell sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $120.28, for a total value of $360,840.00. Following the completion of the transaction, the chief executive officer now directly owns 270,944 shares of the company’s stock, valued at $32,589,144.32. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Walleye Trading LLC bought a new position in RenaissanceRe Holdings during the second quarter worth approximately $125,000. Seven Eight Capital LLC bought a new position in RenaissanceRe Holdings during the first quarter worth approximately $192,000. Chevy Chase Trust Holdings Inc. bought a new position in RenaissanceRe Holdings during the second quarter worth approximately $200,000. BTC Capital Management Inc. raised its position in RenaissanceRe Holdings by 8.8% in the second quarter. BTC Capital Management Inc. now owns 1,823 shares of the company’s stock worth $216,000 after buying an additional 148 shares during the last quarter. Finally, Gideon Capital Advisors Inc. bought a new position in RenaissanceRe Holdings during the second quarter worth approximately $227,000. 94.44% of the stock is owned by hedge funds and other institutional investors.
RenaissanceRe Holdings Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments 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.
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