Investing in RenaissanceRe Holdings Ltd. [RNR]: What You Must Know

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RenaissanceRe Holdings Ltd.’s filing revealed that its Director Gray Brian Gerald John acquired Company’s shares for reported $0.98 million on Aug 10. In the deal valued at $130.62 per share,7,500 shares were bought. As a result of this transaction, Gray Brian Gerald John now holds 23,621 shares worth roughly $ 4.32 million.


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Then, BUSHNELL DAVID C sold 600 shares, generating $89,047 in total proceeds. Upon selling the shares at $148.41, the Director now owns 19,914 shares.

Jefferies downgraded its RenaissanceRe Holdings Ltd. [RNR] rating to a Hold from a a Buy in a research note published on Friday, July 12, 2022; the price target was decreased to $162 from $173. PT values the company’s stock at a premium of -12.88 to its Friday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid November with a ‘”a Buy”‘ rating. BofA Securities also remained covering RNR and has increased its forecast on November 08, 2021 with a “Buy” recommendation from previously “Neutral” rating. Goldman revised its rating on January 08, 2021. It rated RNR as “a Buy” which previously was an “a Neutral”.

Price Performance Review of RNR

On Friday, RenaissanceRe Holdings Ltd. [NYSE:RNR] saw its stock jump 3.03% to $182.87. On the same session, the stock had its day’s lowest price of $176.03, but rose to a high of $183.00. Over the last five days, the stock has gained 17.67%. RenaissanceRe Holdings Ltd. shares have risen nearly 8.00% since the year began. Nevertheless, the stocks have risen 23.97% over the past one year. While a 52-week high of $177.60 was reached on 11/04/22, a 52-week low of $124.18 was recorded on 08/02/22. SMA at 50 days reached $143.03, while 200 days put it at $146.76. A total of 0.83 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For RNR Stock

The 24-hour chart illustrates a support level at 178.27, which if violated will result in even more drops to 173.66. On the upside, there is a resistance level at 185.24. A further resistance level may holdings at 187.60. The Relative Strength Index (RSI) on the 14-day chart is 79.33, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 21.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.29%. Stochastics %K at 94.12% indicates the stock is a selling.

How much short interest is there in RenaissanceRe Holdings Ltd.?

A steep rise in short interest was recorded in RenaissanceRe Holdings Ltd. stocks on Jul 14, 2022, dropping by 17200.0 shares to a total of 0.9 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 0.92 million shares. There was a decline of -1.9%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.35% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.57.

RenaissanceRe Holdings Ltd. [RNR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,411,199 shares, or roughly 10.09% of the outstanding RNR shares. In other words, the investor’s shares have risen by 58,156 from its previous 13-F filing of 4353043.0. Additionally, BlackRock Fund Advisors increased 2.65% of its stake after which the total value it holdings stand at $489,786,876, while T. Rowe Price Associates, Inc. added 6.62% of its stake to hold $468.22 million in the firm. Over the last quarter, Capital Research & Management Co purchased 1,218 shares of RenaissanceRe Holdings Ltd., while SSgA Funds Management, Inc. bought 141,315 shares. At present, State Farm Investment Management is holding 2,399,303 shares valued at $336.84 million. FIL Investment Advisors owned 1,578,427 shares of the company at the time of its most recent 13F filing, worth $221.6 million.

However, 10 analysts have rated RNR stock as a Hold in their predictions for 2022. The most recent change occurred on January 21, 2020 when Citigroup began covering the stock and recommended ‘”a Neutral”‘ rating along with a $192 price target.

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