RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Free Report) has received an average recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $340.00.
A number of research firms have recently issued reports on RNR. Wells Fargo & Company dropped their price target on RenaissanceRe from $331.00 to $319.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Barclays lifted their price objective on RenaissanceRe from $328.00 to $341.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Evercore set a $330.00 price objective on RenaissanceRe in a research note on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut RenaissanceRe from a “buy (b+)” rating to a “hold (c+)” rating in a report on Thursday.
Read Our Latest Research Report on RNR
RenaissanceRe Stock Performance
RNR opened at $339.15 on Friday. The firm has a market capitalization of $13.71 billion, a PE ratio of 9.75, a PEG ratio of 0.91 and a beta of 0.12. RenaissanceRe has a twelve month low of $251.36 and a twelve month high of $363.84. The firm’s 50-day moving average price is $333.05 and its 200 day moving average price is $310.03. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.
RenaissanceRe (NYSE:RNR – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $12.71 EPS for the quarter, beating analysts’ consensus estimates of $10.56 by $2.15. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $15.62 EPS. As a group, sell-side analysts expect that RenaissanceRe will post 48.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Ashurst Perkins Coie Trust Co purchased a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its position 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 valued at $30,000 after buying an additional 45 shares during the period. Continuum Advisory LLC purchased a new stake in shares of RenaissanceRe during the 2nd quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of RenaissanceRe during the 2nd quarter valued at approximately $42,000. Finally, Versant Capital Management Inc lifted its holdings in RenaissanceRe by 155.3% in the third quarter. Versant Capital Management Inc now owns 194 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.
About RenaissanceRe
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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