RenaissanceRe (NYSE:RNR) had its price target increased by stock analysts at Morgan Stanley from $196.00 to $199.00 in a research report issued to clients and investors on Tuesday, Anlyst Ratings reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 19.15% from the stock’s previous close.
RNR has been the topic of several other research reports. BidaskClub lowered RenaissanceRe from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th. Deutsche Bank Aktiengesellschaft cut their price target on RenaissanceRe from $192.00 to $186.00 and set a “hold” rating on the stock in a report on Thursday, October 29th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $160.00 to $162.00 and gave the stock an “underweight” rating in a report on Monday, January 4th. The Goldman Sachs Group upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price target for the stock from $194.00 to $199.00 in a report on Friday, January 8th. Finally, TheStreet lowered RenaissanceRe from a “b” rating to a “c+” rating in a report on Monday, December 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $190.43.
Shares of RenaissanceRe stock opened at $167.02 on Tuesday. RenaissanceRe has a one year low of $113.27 and a one year high of $202.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.62 and a quick ratio of 1.62. The stock’s 50-day moving average is $165.61 and its 200 day moving average is $172.69. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.04 and a beta of 0.46.
RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 27th. The insurance provider reported ($2.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.03) by ($0.61). The firm had revenue of $1.11 billion during the quarter. RenaissanceRe had a return on equity of 5.21% and a net margin of 13.02%. On average, sell-side analysts expect that RenaissanceRe will post 6.27 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of RNR. FMR LLC increased its position in shares of RenaissanceRe by 74.0% during the second quarter. FMR LLC now owns 1,778,438 shares of the insurance provider’s stock valued at $304,166,000 after acquiring an additional 756,289 shares during the last quarter. Samlyn Capital LLC increased its position in shares of RenaissanceRe by 77.0% during the third quarter. Samlyn Capital LLC now owns 841,393 shares of the insurance provider’s stock valued at $142,818,000 after acquiring an additional 366,156 shares during the last quarter. Boston Partners increased its position in shares of RenaissanceRe by 34.2% during the third quarter. Boston Partners now owns 1,366,261 shares of the insurance provider’s stock valued at $231,909,000 after acquiring an additional 348,492 shares during the last quarter. State Street Corp increased its position in shares of RenaissanceRe by 9.0% during the third quarter. State Street Corp now owns 2,276,400 shares of the insurance provider’s stock valued at $386,396,000 after acquiring an additional 188,461 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in shares of RenaissanceRe by 1,173.8% during the third quarter. ExodusPoint Capital Management LP now owns 94,939 shares of the insurance provider’s stock valued at $16,115,000 after acquiring an additional 87,486 shares during the last quarter. 92.34% of the stock is owned by institutional investors.
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 hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, 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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