Revenue Update on RenaissanceRe Holdings Ltd.(NYSE:RNR)

RenaissanceRe Holdings Ltd.(NYSE:RNR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $483.28M. Analysts estimated a revenue of $409.96M. Earnings per share were $1.55. Analysts had estimated an EPS of $2.02.

In a different note, On Jul 11, 2016, Keefe Bruyette & Woods said it Downgrades its rating on RenaissanceRe Holdings Ltd.. The shares have been rated ‘Market Perform’ by the firm. On Apr 28, 2016, Citigroup said it Downgrades its rating on RenaissanceRe Holdings Ltd.. In the research note, the firm Lowers the price-target to $138.00 per share. The shares have been rated ‘Neutral’ by the firm.

RenaissanceRe Holdings Ltd. (RNR) made into the market gainers list on Fridays trading session with the shares advancing 0.38% or 0.45 points. Due to strong positive momentum, the stock ended at $117.52, which is also near the day’s high of $117.87. The stock began the session at $117.14 and the volume stood at 3,23,671 shares. The 52-week high of the shares is $121.38 and the 52 week low is $99.35. The company has a current market capitalization of $4,843 M and it has 4,12,08,267 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Kevin Odonnell (Pres & Chief Executive Officer) sold 3,000 shares at $114.81 per share price.Also, On Jul 1, 2016, Rider Fonner Todd (SVP & CIO) sold 1,500 shares at $116.76 per share price.On Jul 1, 2016, Stephen Howard Weinstein (SVP, General Counsel & Secty) sold 3,000 shares at $117.50 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.

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