RenaissanceRe (RNR) Hits New 12-Month High at $167.17

RenaissanceRe Holdings Ltd. (NYSE:RNR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $167.17 and last traded at $166.66, with a volume of 6560 shares traded. The stock had previously closed at $164.29.

Several research firms have issued reports on RNR. Barclays boosted their target price on RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, April 1st. ValuEngine upgraded RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Monday, April 1st. UBS Group boosted their price target on RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Finally, TheStreet raised RenaissanceRe from a “c+” rating to a “b” rating in a research note on Thursday, February 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. RenaissanceRe presently has an average rating of “Hold” and an average target price of $146.36.

The company has a market capitalization of $7.25 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.40 and a beta of 0.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.



RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $3.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.40. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $738.70 million. RenaissanceRe had a return on equity of 9.25% and a net margin of 18.18%. The company’s quarterly revenue was up 40.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 12.32 earnings per share for the current year.

In related news, SVP Sean G. Brosnan sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total value of $182,462.50. Following the sale, the senior vice president now owns 10,960 shares of the company’s stock, valued at approximately $1,599,831.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Ian D. Branagan sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $153.00, for a total value of $306,000.00. Following the completion of the sale, the senior vice president now directly owns 52,617 shares in the company, valued at approximately $8,050,401. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock worth $3,118,463 in the last three months. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in RenaissanceRe by 7.9% in the 1st quarter. BlackRock Inc. now owns 5,283,466 shares of the insurance provider’s stock valued at $758,178,000 after buying an additional 384,867 shares in the last quarter. Vanguard Group Inc lifted its stake in RenaissanceRe by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 4,103,600 shares of the insurance provider’s stock valued at $548,159,000 after buying an additional 59,867 shares in the last quarter. Boston Partners lifted its stake in RenaissanceRe by 144.6% in the 4th quarter. Boston Partners now owns 1,340,903 shares of the insurance provider’s stock valued at $179,279,000 after buying an additional 792,675 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of RenaissanceRe by 23.2% during the 1st quarter. Victory Capital Management Inc. now owns 885,230 shares of the insurance provider’s stock worth $127,031,000 after purchasing an additional 166,575 shares during the period. Finally, Polar Capital LLP lifted its stake in shares of RenaissanceRe by 1.9% during the 4th quarter. Polar Capital LLP now owns 519,650 shares of the insurance provider’s stock worth $69,477,000 after purchasing an additional 9,650 shares during the period. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

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About RenaissanceRe (NYSE:RNR)

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

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