RenaissanceRe (NYSE:RNR – Get Free Report) had its price target boosted by analysts at UBS Group from $349.00 to $366.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. UBS Group‘s price target suggests a potential upside of 4.13% from the company’s previous close.
A number of other research firms have also weighed in on RNR. Evercore set a $330.00 target price on shares of RenaissanceRe in a report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price target on shares of RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Barclays increased their price objective on shares of RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada started coverage on shares of RenaissanceRe in a research note on Tuesday, September 22nd. They issued a “sector perform” rating and a $365.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of RenaissanceRe from $319.00 to $338.00 and gave the stock an “equal weight” rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.69.
Check Out Our Latest Report on RNR
RenaissanceRe Price Performance
Shares of RNR stock traded up $12.18 on Monday, hitting $351.50. 749,048 shares of the stock traded hands, compared to its average volume of 363,305. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.89 and a beta of 0.12. RenaissanceRe has a 52 week low of $251.36 and a 52 week high of $363.84. The firm has a 50 day simple moving average of $333.05 and a two-hundred day simple moving average of $310.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.40.
RenaissanceRe (NYSE:RNR – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $12.71 EPS for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the firm earned $15.62 EPS. As a group, equities research analysts predict that RenaissanceRe will post 48.12 earnings per share for the current fiscal year.
Institutional Trading of RenaissanceRe
Several hedge funds and other institutional investors have recently bought and sold shares of RNR. Envestnet Portfolio Solutions Inc. boosted its stake in RenaissanceRe by 0.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,405 shares of the insurance provider’s stock worth $1,713,000 after buying an additional 32 shares during the period. Wedmont Private Capital lifted its holdings in shares of RenaissanceRe by 3.1% in the 2nd quarter. Wedmont Private Capital now owns 1,205 shares of the insurance provider’s stock worth $380,000 after acquiring an additional 36 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of RenaissanceRe by 18.0% in the 3rd quarter. Mather Group LLC. now owns 242 shares of the insurance provider’s stock worth $77,000 after acquiring an additional 37 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of RenaissanceRe by 90.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 45 shares during the period. Finally, Midwest Professional Planners LTD. boosted its stake in shares of RenaissanceRe by 1.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock worth $985,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.
RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.
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