RenaissanceRe Holdings Ltd. (RNR) is Downgraded by Citigroup to Neutral

RenaissanceRe Holdings Ltd. (RNR) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on RenaissanceRe Holdings Ltd.. Company shares were Reiterated by RBC Capital Mkts on Feb 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 117 from a previous price target of $113 .

On the company’s financial health, RenaissanceRe Holdings Ltd. reported $1.51 EPS for the quarter, missing the analyst consensus estimate by $ -1.19 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $2.70. The company had revenue of $448.12 million for the quarter, compared to analysts expectations of $398.98 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.10 EPS.

RenaissanceRe Holdings Ltd. closed down -4.83 points or -4.22% at $109.7 with 7,71,174 shares getting traded on Wednesday. Post opening the session at $109.38, the shares hit an intraday low of $108.28 and an intraday high of $110.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 4, 2016, Rider Fonner Todd (SVP & CIO) sold 1,500 shares at $119.00 per share price. According to the SEC, on Feb 18, 2016, William Francis Hagerty (director) purchased 2,000 shares at $113.23 per share price. On Feb 3, 2016, Kevin Odonnell (Pres & Chief Executive Officer) sold 2,000 shares at $114.02 per share price, according to the Form-4 filing with the securities and exchange commission.

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance specialty reinsurance risks and certain insurance products. Its operating segments include Catastrophe Reinsurance Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance offers coverage against natural catastrophes such as earthquakes hurricanes and tsunamis as well as other natural and manmade catastrophes. Specialty Reinsurance offers coverage in aviation casualty clash catastrophe exposed personal lines property. Lloyd’s underwriting platform provides access to Lloyd’s distribution network. Property catastrophe reinsurance is written for own account for DaVinci and for other joint ventures. It writes specialty reinsurance for own account and for DaVinci covering certain targeted classes of business. The Lloyd’s segment includes insurance and reinsurance business written for own account through Syndicate 1458.

RenaissanceRe Holdings Ltd.

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