RenaissanceRe (NYSE:RNR) PT Raised to $314.00

RenaissanceRe (NYSE:RNR) had its price target boosted by investment analysts at Jefferies Financial Group from $270.00 to $314.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 12.68% from the company’s current price.

Several other research firms also recently weighed in on RNR. Morgan Stanley reduced their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Evercore ISI lifted their price target on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $289.00.

RenaissanceRe Stock Up 1.8 %

RenaissanceRe stock opened at $278.66 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $14.53 billion, a P/E ratio of 5.51, a P/E/G ratio of 1.70 and a beta of 0.38. The firm has a 50 day moving average price of $254.72 and a 200-day moving average price of $234.83. RenaissanceRe has a twelve month low of $188.24 and a twelve month high of $283.86.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. As a group, equities analysts predict that RenaissanceRe will post 39.55 EPS for the current year.

Insider Buying and Selling at RenaissanceRe

In other news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at approximately $16,598,352.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the transaction, the executive vice president now owns 83,044 shares in the company, valued at approximately $22,338,836. The trade was 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 this hyperlink. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock worth $1,339,400 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of RenaissanceRe

Several hedge funds and other institutional investors have recently bought and sold shares of RNR. Riverview Trust Co bought a new position in shares of RenaissanceRe in the first quarter worth approximately $26,000. Blue Trust Inc. bought a new stake in RenaissanceRe in the 2nd quarter worth $27,000. UMB Bank n.a. increased its position 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 valued at $34,000 after acquiring an additional 95 shares during the period. Rise Advisors LLC purchased a new position in shares of RenaissanceRe in the first quarter valued at about $31,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of RenaissanceRe during the second quarter worth about $31,000. 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.