RenaissanceRe (NYSE:RNR) PT Raised to $295.00

RenaissanceRe (NYSE:RNRGet Free Report) had its target price lifted by stock analysts at BMO Capital Markets from $216.00 to $295.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 29.57% from the company’s current price.

Other analysts have also recently issued research reports about the company. TheStreet raised RenaissanceRe from a “c” rating to a “b-” rating in a report on Monday, October 30th. Evercore ISI began coverage on RenaissanceRe in a report on Thursday, December 14th. They issued an “underperform” rating and a $200.00 price target on the stock. Citigroup began coverage on RenaissanceRe in a report on Wednesday, November 22nd. They issued a “buy” rating and a $251.00 price target on the stock. Morgan Stanley raised their price target on RenaissanceRe from $229.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. Finally, TD Cowen assumed coverage on RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $240.90.

Check Out Our Latest Report on RenaissanceRe

RenaissanceRe Stock Up 0.0 %

Shares of NYSE RNR opened at $227.67 on Monday. RenaissanceRe has a 52 week low of $174.22 and a 52 week high of $233.85. The business has a 50-day simple moving average of $205.67 and a two-hundred day simple moving average of $202.66. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a market cap of $11.65 billion, a P/E ratio of 4.44, a P/E/G ratio of 2.55 and a beta of 0.31.

RenaissanceRe (NYSE:RNRGet Free Report) last issued its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $7.33 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Research analysts anticipate that RenaissanceRe will post 33.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total value of $209,050.00. Following the sale, the executive vice president now directly owns 80,449 shares in the company, valued at approximately $16,817,863.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RenaissanceRe

Several hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in RenaissanceRe during the second quarter valued at $26,000. First Horizon Advisors Inc. raised its stake in shares of RenaissanceRe by 205.9% in the second quarter. First Horizon Advisors Inc. now owns 156 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 105 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of RenaissanceRe by 4,833.3% in the third quarter. Financial Management Professionals Inc. now owns 148 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 145 shares during the last quarter. Quarry LP purchased a new position in shares of RenaissanceRe in the first quarter worth $32,000. Finally, National Bank of Canada FI purchased a new position in shares of RenaissanceRe in the second quarter worth $34,000. 91.84% of the stock is currently owned by institutional investors.

RenaissanceRe Company Profile

(Get Free Report)

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.

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