KBW Sticks to Its Hold Rating for Renaissancere Holdings (RNR)

In a report released yesterday, Meyer Shields from KBW maintained a Hold rating on Renaissancere Holdings, with a price target of $323.00. The company’s shares closed yesterday at $298.68.

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According to TipRanks, Shields is a 5-star analyst with an average return of 11.2% and a 67.34% success rate. Shields covers the Financial sector, focusing on stocks such as Allstate, Chubb, and Progressive.

The word on The Street in general, suggests a Hold analyst consensus rating for Renaissancere Holdings with a $312.85 average price target, representing a 4.74% upside. In a report released today, Morgan Stanley also downgraded the stock to a Hold with a $310.00 price target.

Based on Renaissancere Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.92 billion and a net profit of $760.48 million. In comparison, last year the company earned a revenue of $2.28 billion and had a GAAP net loss of $189.66 million

Based on the recent corporate insider activity of 12 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. Earlier this month, Robert Qutub, the EVP & CFO of RNR sold 5,000.00 shares for a total of $1,528,729.60.