Deutsche Bank AG lowered shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) from a buy rating to a hold rating in a research note issued to investors on Monday. Deutsche Bank AG currently has $131.78 target price on the stock.
Several other research analysts have also recently issued reports on RNR. Keefe, Bruyette & Woods upped their price target on RenaissanceRe Holdings from $130.00 to $134.00 and gave the company a market perform rating in a report on Thursday, July 28th. Zacks Investment Research raised RenaissanceRe Holdings from a sell rating to a hold rating in a report on Friday, October 7th. Finally, Goldman Sachs Group Inc. raised RenaissanceRe Holdings from a sell rating to a neutral rating and upped their price target for the company from $101.00 to $125.00 in a report on Tuesday, November 15th. Seven analysts have rated the stock with a hold rating, RenaissanceRe Holdings currently has an average rating of Hold and an average price target of $126.72.
RenaissanceRe Holdings (NYSE:RNR) opened at 130.60 on Monday. RenaissanceRe Holdings has a one year low of $107.27 and a one year high of $132.43. The company has a 50-day moving average price of $125.24 and a 200-day moving average price of $118.86. The firm has a market cap of $5.37 billion, a PE ratio of 11.10 and a beta of 0.46.
RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.30. The company had revenue of $442.47 million for the quarter, compared to analysts’ expectations of $488.38 million. RenaissanceRe Holdings had a return on equity of 8.54% and a net margin of 30.02%. The firm’s 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. Equities analysts predict that RenaissanceRe Holdings will post $6.47 earnings per share for the current fiscal year.
In other news, CEO Kevin Odonnell sold 6,161 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $123.73, for a total value of $762,300.53. Following the transaction, the chief executive officer now directly owns 282,161 shares of the company’s stock, valued at $34,911,780.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rider Fonner Todd sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $130.32, for a total transaction of $781,920.00. Following the completion of the transaction, the senior vice president now directly owns 60,753 shares in the company, valued at $7,917,330.96. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
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 $125,000. Seven Eight Capital LLC bought a new position in RenaissanceRe Holdings during the first quarter worth $192,000. Chevy Chase Trust Holdings Inc. bought a new position in RenaissanceRe Holdings during the second quarter worth $200,000. BTC Capital Management Inc. increased 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 period. Finally, Gideon Capital Advisors Inc. bought a new position in RenaissanceRe Holdings during the second quarter worth $227,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.
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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