RenaissanceRe (NYSE:RNR) Price Target Raised to $238.00

RenaissanceRe (NYSE:RNRGet Free Report) had its price target raised by investment analysts at UBS Group from $229.00 to $238.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price target points to a potential upside of 4.54% from the stock’s previous close.

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

Check Out Our Latest Stock Analysis on RenaissanceRe

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $227.67 on Monday. The business’s fifty day moving average price is $205.67 and its two-hundred day moving average price is $202.66. RenaissanceRe has a fifty-two week low of $174.22 and a fifty-two week high of $233.85. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 4.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.45.

RenaissanceRe (NYSE:RNRGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.33 earnings per share. As a group, analysts predict that RenaissanceRe will post 33.98 EPS for the current fiscal year.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares of the company’s stock, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares of the company’s stock, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total value of $209,050.00. Following the completion of the sale, the executive vice president now owns 80,449 shares of the company’s stock, valued at $16,817,863.45. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of RenaissanceRe by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after acquiring an additional 120,302 shares in the last quarter. BlackRock Inc. grew its holdings in shares of RenaissanceRe by 10.8% during the second quarter. BlackRock Inc. now owns 4,503,190 shares of the insurance provider’s stock worth $839,935,000 after buying an additional 440,083 shares in the last quarter. Capital World Investors grew its holdings in shares of RenaissanceRe by 5.4% during the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after buying an additional 129,891 shares in the last quarter. State Street Corp grew its holdings in shares of RenaissanceRe by 4.4% during the second quarter. State Street Corp now owns 2,197,056 shares of the insurance provider’s stock worth $409,795,000 after buying an additional 93,549 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of RenaissanceRe by 7.1% during the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after buying an additional 135,861 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

About RenaissanceRe

(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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Analyst Recommendations for RenaissanceRe (NYSE:RNR)

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