RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Consensus Rating of “Hold” by Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned an average recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $289.00.

Several brokerages have weighed in on RNR. Wells Fargo & Company increased their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group dropped their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Bank of America increased their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup increased their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RNR. Wealth Enhancement Advisory Services LLC increased its holdings in shares of RenaissanceRe by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,594 shares of the insurance provider’s stock worth $1,550,000 after buying an additional 78 shares during the period. State of Michigan Retirement System increased its holdings in RenaissanceRe by 3.2% during the 1st quarter. State of Michigan Retirement System now owns 12,965 shares of the insurance provider’s stock valued at $3,047,000 after purchasing an additional 400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in RenaissanceRe by 47.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock valued at $5,815,000 after purchasing an additional 7,975 shares during the period. Carret Asset Management LLC purchased a new position in RenaissanceRe during the 1st quarter valued at about $235,000. Finally, State of Alaska Department of Revenue increased its holdings in RenaissanceRe by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $269.29 on Wednesday. The stock has a fifty day simple moving average of $266.38 and a two-hundred day simple moving average of $240.66. RenaissanceRe has a 1-year low of $188.24 and a 1-year high of $284.36. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 1.73 and a beta of 0.39. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

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.