Are RenaissanceRe Holdings (NYSE:RNR) Shares Worth Your Time and Dime Following Recent Nomura Upgrade?


RenaissanceRe Holdings (NYSE:RNR) Stock Upgrade

Nomura increased shares of RenaissanceRe Holdings (NYSE:RNR) from a Reduce rating to a solid Neutral in a comprehensive report issued on today.

From a total of 14 analysts covering RenaissanceRe (NYSE:RNR) stock, 4 rate it a ”Buy”, 3 a “Sell”, and 11 a ”Hold”. This means that 22% of the ratings are positive. RenaissanceRe was the topic of 2 analyst reports since October 14, 2015 according to the firm StockzIntelligence Inc. Bernstein upgraded shares on October 14 to “Mkt Perform” rating.

The stock increased 1.78% or $1.99 on December 4, striking $113.59. Approximately shares of stock traded hands. RenaissanceRe Holdings Ltd. (NYSE:RNR) has risen 9.91% since May 4, 2015 and is uptrending. It has outperformed by 10.99% the S&P500.

 Are RenaissanceRe Holdings (NYSE:RNR) Shares Worth Your Time and Dime Following Recent Nomura Upgrade?

The overall sentiment of institutions has decreased to 0.84 in Q2 2015. Its down 0.27, from 1.11 in 2015Q2. The ratio dropped, as 36 institutions have sold all the shares of RenaissanceRe Holdings Ltd. that they owned while 108 funds have taken shares off the table. 22 funds have purchased shares for the first time while 99 added to their positions. These institutions now hold 37.94 million shares or 10.51% less than the 42.40 million shares they owned in 2015Q2.

The Fund Arga Investment Management Lp currently is holding shares equating to 12.21% of its total portfolio in RenaissanceRe Holdings Ltd. representing a total of 400,900 shares. Another fund,Abrams Bison Investments Llc, is holding a total of 625,657 shares equating to 7.3% of their holdings. Additionally, Lagoda Investment Management L.P. has a 216,790 share stake in RenaissanceRe Holdings Ltd. which represents 6.73% of their total portfolio. The Fund, Nepsis Capital Management Inc., based out of Minnesota, has also built up a stake in the stock, which represents a total of 3.67% of their total portfolio. Finally Cooke & Bieler Lp, a fund which is based in the state of Pennsylvania reported a total holdings of 1.42 million shares.

Insider activity is a very important aspect to track on any stock. Going back to March 20, 2015, shareholders of RenaissanceRe Holdings Ltd. have witnessed 0 insider purchases, and a total of 10 insider sales equating to a net activity of approximately $4.71 million . Branagan Ian D sold 3,666 shares worth approximately $403,377. Curtis Ross sold 5,000 shares worth approximately $550,000. Weinstein Stephen Howard sold 800 shares worth approximately $88,000. Paradine Jonathan sold 5,000 shares worth approximately $550,000. The company insider Odonnell Kevin sold 2,000 shares worth $214,840.

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The company has a market cap of $4.98 billion. The Company’s core products include property catastrophe reinsurance, specialty reinsurance risks and certain insurance products. It has 9.9 P/E ratio. The Company’s operating divisions include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s.

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.” Get a free copy of the Zacks research report on RenaissanceRe Holdings Ltd. (RNR).