RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $197.57.
RNR has been the topic of several analyst reports. Morgan Stanley boosted their target price on RenaissanceRe from $205.00 to $220.00 and gave the company an “equal weight” rating in a research report on Friday. TheStreet upgraded shares of RenaissanceRe from a “c+” rating to a “b” rating in a research report on Tuesday, July 28th. Citigroup lowered their target price on shares of RenaissanceRe from $192.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, April 21st. Wells Fargo & Co lifted their price target on shares of RenaissanceRe from $190.00 to $229.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Deutsche Bank reduced their price objective on shares of RenaissanceRe from $195.00 to $185.00 and set a “hold” rating on the stock in a research report on Friday, May 15th.
Several hedge funds and other institutional investors have recently bought and sold shares of RNR. Harbor Investment Advisory LLC purchased a new position in RenaissanceRe in the 1st quarter worth about $25,000. Creative Financial Designs Inc. ADV bought a new position in RenaissanceRe in the 2nd quarter worth about $33,000. C M Bidwell & Associates Ltd. purchased a new position in shares of RenaissanceRe during the first quarter worth approximately $31,000. Signaturefd LLC raised its stake in shares of RenaissanceRe by 43.8% during the second quarter. Signaturefd LLC now owns 210 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 64 shares in the last quarter. Finally, AIA Investment Management Private Ltd bought a new stake in shares of RenaissanceRe during the first quarter valued at approximately $96,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
RenaissanceRe stock opened at $180.38 on Tuesday. The company’s 50-day moving average price is $177.00 and its 200-day moving average price is $171.43. The company has a quick ratio of 1.50, a current ratio of 1.62 and a debt-to-equity ratio of 0.17. The company has a market cap of $9.24 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 0.92 and a beta of 0.44. RenaissanceRe has a twelve month low of $113.27 and a twelve month high of $202.68.
RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $4.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $1.38. RenaissanceRe had a return on equity of 5.21% and a net margin of 13.02%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $4.78 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts expect that RenaissanceRe will post 8.05 earnings per share for the current fiscal year.
RenaissanceRe Company Profile
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 earthquakes, hurricanes, 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, and binding facilities and regional U.S.
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