RenaissanceRe Rises On Unusually High Volume (RNR)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- RenaissanceRe Holdings (NYSE: RNR) is trading at unusually high volume Wednesday with 926,925 shares changing hands. It is currently at two times its average daily volume and trading up $1.72 (+2%) at $87 as of 3:35 p.m. ET.

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RenaissanceRe has a market cap of $3.8 billion and is part of the financial sector and insurance industry. Shares are up 4.9% year to date as of the close of trading on Tuesday.

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages and related services in the United States and internationally. The company has a P/E ratio of 7.4, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates RenaissanceRe as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, notable return on equity, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full RenaissanceRe Ratings Report.

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