PartnerRe ( PRE) pushed the Insurance industry higher today making it today's featured insurance winner. The industry as a whole closed the day down 2.2%. By the end of trading, PartnerRe rose 66 cents (0.9%) to $71.53 on heavy volume. Throughout the day, 731,411 shares of PartnerRe exchanged hands as compared to its average daily volume of 451,800 shares. The stock ranged in a price between $70.35-$72.08 after having opened the day at $70.35 as compared to the previous trading day's close of $70.87. Other companies within the Insurance industry that increased today were: Kingstone Companies ( KINS), up 5.8%, Unico American Corporation ( UNAM), up 3.3%, Universal Insurance Holdings ( UVE), up 2.6%, and Flagstone Reinsurance Holdings ( FSR), up 1.8%. PartnerRe Ltd., through its subsidiaries, provides reinsurance services worldwide. PartnerRe has a market cap of $4.55 billion and is part of the financial sector. The company has a P/E ratio of eight, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 9.8% year to date as of the close of trading on Thursday. Currently there are eight analysts that rate PartnerRe a buy, no analysts rate it a sell, and eight rate it a hold. TheStreet Ratings rates PartnerRe as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the insurance industry could consider KBW Insurance ETF ( KIE) while those bearish on the insurance industry could consider Proshares Short Financials ( SEF).