JMP Securities Remains a Hold on Renaissancere Holdings (RNR)

In a report issued on July 18, Matthew Carletti from JMP Securities maintained a Hold rating on Renaissancere Holdings (RNRResearch Report). The company’s shares closed last Tuesday at $134.85, close to its 52-week low of $133.75.

According to, Carletti is a 1-star analyst with an average return of -1.4% and a 53.3% success rate. Carletti covers the Financial sector, focusing on stocks such as Argo Group International Holdings, Heritage Insurance Holdings, and Old Republic International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Renaissancere Holdings with a $174.20 average price target, a 24.6% upside from current levels. In a report issued on July 12, Jefferies also downgraded the stock to Hold with a $162.00 price target.

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The company has a one-year high of $174.55 and a one-year low of $133.75. Currently, Renaissancere Holdings has an average volume of 314.7K.

Based on the recent corporate insider activity of 39 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.

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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.

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