Morgan Stanley Boosts RenaissanceRe (NYSE:RNR) Price Target to $195.00

RenaissanceRe (NYSE:RNRGet Rating) had its target price lifted by Morgan Stanley from $150.00 to $195.00 in a report released on Tuesday, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company raised their target price on shares of RenaissanceRe from $171.00 to $184.00 in a research note on Thursday, November 3rd. StockNews.com raised shares of RenaissanceRe from a sell rating to a hold rating in a research note on Friday, November 18th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $180.33.

RenaissanceRe Stock Up 1.1 %

Shares of NYSE:RNR opened at $185.54 on Tuesday. The company’s 50-day moving average price is $153.13 and its 200 day moving average price is $147.01. RenaissanceRe has a fifty-two week low of $124.18 and a fifty-two week high of $187.88. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, December 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently -4.74%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RNR. Heritage Wealth Management LLC acquired a new stake in shares of RenaissanceRe during the second quarter worth approximately $28,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of RenaissanceRe during the third quarter worth approximately $28,000. Neo Ivy Capital Management acquired a new stake in shares of RenaissanceRe during the third quarter worth approximately $29,000. Geneos Wealth Management Inc. acquired a new stake in shares of RenaissanceRe during the second quarter worth approximately $31,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of RenaissanceRe during the third quarter worth approximately $34,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

About RenaissanceRe

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RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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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