The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) reached all time high today, Nov, 7 and still has $206.89 target or 64.00% above today’s $126.15 share price. This indicates more upside for the $5.19B company. This technical setup was reported by Barchart.com. If the $206.89 PT is reached, the company will be worth $3.32 billion 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 134,555 shares traded hands. RenaissanceRe Holdings Ltd. (NYSE:RNR) has risen 4.99% since April 5, 2016 and is uptrending. It has outperformed by 3.03% the S&P500.
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 downgraded by Wood to “Market Perform” on Monday, July 11. The firm earned “Neutral” rating on Monday, December 7 by Nomura. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, February 4. The firm earned “Mkt Perform” rating on Wednesday, October 14 by Bernstein. Citigroup maintained it with “Buy” rating and $138 target price in Friday, April 8 report. The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) earned “Neutral” rating by Citigroup on Thursday, April 28.
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 2016 Q2. Its up 0.09, from 0.91 in 2016Q1. The ratio increased, 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.
The Maryland-based Profund Advsrs Ltd Liability Co has invested 0.04% in RenaissanceRe Holdings Ltd. (NYSE:RNR). Moreover, Rafferty Asset Ltd Liability Com has 0.04% invested in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 4,542 shares. Eulav Asset Mgmt last reported 0.3% of its portfolio in the stock. Pacad Invest Limited has 4,000 shares for 0.07% of their US portfolio. Timessquare Mngmt Llc has 1.28M shares for 0.99% of their US portfolio. Neville Rodie And Shaw owns 2,700 shares or 0.04% of their US portfolio. Tiaa Cref Inv Mgmt Limited Company holds 434,036 shares or 0.04% of its portfolio. Bluecrest Ltd owns 4,417 shares or 0.02% of their US portfolio. Tudor Et Al holds 0.06% or 22,310 shares in its portfolio. Canada Pension Plan Investment Board, a Ontario – Canada-based fund reported 10 shares. Public Employees Retirement Association Of Colorado has 9,956 shares for 0.01% of their US portfolio. Capstone Asset last reported 6,062 shares in the company. The Maryland-based Howard Hughes Med Institute has invested 0.94% in RenaissanceRe Holdings Ltd. (NYSE:RNR). Macquarie Grp Ltd holds 0% of its portfolio in RenaissanceRe Holdings Ltd. (NYSE:RNR) for 1,100 shares. Amalgamated Savings Bank last reported 5,759 shares in the company.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 14 insider sales for $4.53 million net activity. $179,205 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares were sold by Todd Rider Fonner. ODonnell Kevin also sold $350,910 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares. BRANAGAN IAN D sold 2,000 shares worth $240,000. $352,500 worth of shares were sold by Weinstein Stephen Howard on Friday, July 1. $74,875 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares were sold by Dutt Aditya.
More news for RenaissanceRe Holdings Ltd. (NYSE:RNR) were recently published by: Businesswire.com, which released: “RenaissanceRe Holdings Ltd. Announces Finance Leadership Team Changes” on October 27, 2016. Businesswire.com‘s article titled: “RenaissanceRe Announces Executive Changes at RenaissanceRe Syndicate Management” and published on November 19, 2015 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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