RenaissanceRe Holdings Ltd. (RNR) is Downgraded by Deutsche Bank to Hold, Price Target at $131.78

RenaissanceRe Holdings Ltd. (RNR) was Downgraded by Deutsche Bank to ” Hold” and the brokerage firm has set the Price Target at $131.78. Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on RenaissanceRe Holdings Ltd.. RenaissanceRe Holdings Ltd. was Upgraded by Goldman to ” Neutral” on Nov 15, 2016.

On the company’s financial health, RenaissanceRe Holdings Ltd. reported $2.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $2.17. The company had revenue of $442.47 million for the quarter, compared to analysts expectations of $424.00 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS.

RenaissanceRe Holdings Ltd. closed down -0.09 points or -0.07% at $131.78 with 2,28,238 shares getting traded on Monday. Post opening the session at $131.76, the shares hit an intraday low of $131.1174 and an intraday high of $132.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Nov 10, 2016, RenaissanceRe Holdings Ltd. announced a cash dividend of $0.3100. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.

In a different news, on Nov 15, 2016, Rider Fonner Todd (SVP & CIO) sold 6,000 shares at $130.32 per share price. According to the SEC, on Nov 15, 2016, Ian D Branagan (SVP, Chief Risk Officer) sold 3,000 shares at $130.00 per share price. On Nov 8, 2016, Kevin Odonnell (Pres & Chief Executive Officer) sold 6,161 shares at $123.73 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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