RenaissanceRe (NYSE:RNR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

RenaissanceRe (NYSE:RNR) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $310.00 to $318.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 27.19% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $284.00 to $234.00 in a research report on Monday, January 6th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and a consensus target price of $286.36.

RenaissanceRe Stock Down 1.3 %

Shares of RenaissanceRe stock opened at $250.01 on Friday. RenaissanceRe has a 1 year low of $199.73 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The company has a 50-day moving average of $263.78 and a 200 day moving average of $253.94. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 3.60, a PEG ratio of 1.31 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s revenue was up 52.1% on a year-over-year basis. During the same period last year, the business earned $8.33 earnings per share. As a group, sell-side analysts anticipate that RenaissanceRe will post 41.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC bought a new stake in RenaissanceRe during the 3rd quarter worth approximately $30,000. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe during the 3rd quarter valued at $45,000. V Square Quantitative Management LLC lifted its stake in shares of RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after buying an additional 41 shares in the last quarter. Finally, LRI Investments LLC boosted its holdings in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

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.