RenaissanceRe (NYSE:RNR) PT Raised to $245.00 at JPMorgan Chase & Co.

RenaissanceRe (NYSE:RNR) had its price target upped by research analysts at JPMorgan Chase & Co. from $237.00 to $245.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.10% from the stock’s previous close.

A number of other equities research analysts have also issued reports on RNR. UBS Group raised their price target on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. TD Cowen initiated coverage on RenaissanceRe in a research report on Wednesday, January 10th. They set a “market perform” rating for the company. Evercore ISI upped their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $249.00.

RenaissanceRe Trading Up 0.1 %

RNR stock opened at $218.55 on Wednesday. RenaissanceRe has a twelve month low of $174.22 and a twelve month high of $239.42. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 4.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.31. The company has a quick ratio of 1.40, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $226.68 and its two-hundred day simple moving average is $216.35.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating the consensus estimate of $9.86 by $2.32. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm posted $8.16 EPS. The firm’s revenue was up 41.3% compared to the same quarter last year. As a group, analysts anticipate that RenaissanceRe will post 34.43 earnings per share for the current year.

Insider Transactions at RenaissanceRe

In related news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the transaction, the chief financial officer now owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC boosted its position in shares of RenaissanceRe by 8.7% in the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 49 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of RenaissanceRe by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after acquiring an additional 50 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of RenaissanceRe by 1.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock valued at $704,000 after acquiring an additional 59 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of RenaissanceRe by 1.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 73 shares during the last quarter. Finally, Xponance Inc. boosted its stake in RenaissanceRe by 1.0% in the 3rd quarter. Xponance Inc. now owns 7,590 shares of the insurance provider’s stock worth $1,502,000 after purchasing an additional 75 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Company Profile

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.