In a report released today, Joshua Shanker from Bank of America Securities maintained a Buy rating on Renaissancere Holdings (RNR – Research Report). The company’s shares closed yesterday at $219.25.
Shanker covers the Financial sector, focusing on stocks such as Progressive, Everest Group, and Allstate. According to TipRanks, Shanker has an average return of 9.0% and a 61.19% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Renaissancere Holdings with a $266.50 average price target, representing a 21.55% upside. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $290.00 price target.
Based on Renaissancere Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.24 billion and a net profit of $1.61 billion. In comparison, last year the company earned a revenue of $1.29 billion and had a GAAP net loss of $816.5 million
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RNR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Renaissancere Holdings (RNR) Company Description:
RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following segments: Property, Casualty and Specialty, and Other. The Property segment comprises of catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance and insurance. The Other segment includes strategic investments, investments unit, corporate expense, capital servicing costs, and non-controlling interests. The company was founded by Neill A. Currie on June 7, 1993 and is headquartered in Pembroke, Bermuda.
