RenaissanceRe Holdings Ltd. (NYSE:RNR) reached a new 52-week high on Thursday . The stock traded as high as $142.61 and last traded at $140.96, with a volume of 3266 shares. The stock had previously closed at $141.62.
Several research firms recently weighed in on RNR. Keefe, Bruyette & Woods raised shares of RenaissanceRe from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $143.00 to $168.00 in a research report on Monday, December 10th. Morgan Stanley cut their price objective on shares of RenaissanceRe from $142.00 to $136.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. Citigroup cut shares of RenaissanceRe from a “buy” rating to a “neutral” rating in a research report on Thursday, November 8th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $130.00 to $125.00 in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of RenaissanceRe from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $143.70.
The company has a current ratio of 1.71, a quick ratio of 1.67 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.36 and a beta of 0.50.
RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.93) by $1.95. The business had revenue of $633.44 million during the quarter, compared to analyst estimates of $545.60 million. RenaissanceRe had a net margin of 10.96% and a return on equity of 9.18%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 11.07 earnings per share for the current fiscal year.
In related news, SVP Jonathan Paradine sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $132.79, for a total value of $2,655,800.00. Following the completion of the transaction, the senior vice president now owns 64,630 shares in the company, valued at approximately $8,582,217.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC bought a new position in RenaissanceRe in the 4th quarter valued at approximately $30,000. First Mercantile Trust Co. raised its holdings in RenaissanceRe by 52.6% in the 4th quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in RenaissanceRe by 333.3% in the 4th quarter. AdvisorNet Financial Inc now owns 650 shares of the insurance provider’s stock valued at $87,000 after buying an additional 500 shares during the last quarter. ETF Managers Group LLC raised its holdings in RenaissanceRe by 15.5% in the 4th quarter. ETF Managers Group LLC now owns 937 shares of the insurance provider’s stock valued at $125,000 after buying an additional 126 shares during the last quarter. Finally, Ffcm LLC bought a new position in RenaissanceRe in the 4th quarter valued at approximately $149,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
About RenaissanceRe (NYSE:RNR)
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its 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, such as 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, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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