RenaissanceRe (NYSE:RNR) had its target price trimmed by Wells Fargo & Co from $130.00 to $125.00 in a research report sent to investors on Thursday morning. The firm currently has a market perform rating on the insurance provider’s stock.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of RenaissanceRe from a buy rating to a hold rating in a research note on Monday, October 15th. Buckingham Research upped their target price on shares of RenaissanceRe from $145.00 to $160.00 and gave the company a buy rating in a research note on Wednesday, October 3rd. Finally, Citigroup dropped their price objective on shares of RenaissanceRe from $161.00 to $153.00 and set a buy rating for the company in a research note on Monday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $143.00.
NYSE:RNR opened at $125.26 on Thursday. The firm has a market cap of $5.00 billion, a P/E ratio of -15.00, a P/E/G ratio of 1.22 and a beta of 0.65. RenaissanceRe has a one year low of $116.50 and a one year high of $142.56. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.23.
RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.42. The firm had revenue of $453.30 million during the quarter, compared to analysts’ expectations of $416.49 million. RenaissanceRe had a net margin of 15.07% and a return on equity of 10.52%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($13.81) EPS. As a group, analysts forecast that RenaissanceRe will post 10.2 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. BlueMountain Capital Management LLC grew its holdings in shares of RenaissanceRe by 1,331.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 1,274 shares of the insurance provider’s stock worth $153,000 after purchasing an additional 1,185 shares during the last quarter. Korea Investment CORP bought a new stake in shares of RenaissanceRe in the 2nd quarter worth about $168,000. Daiwa SB Investments Ltd. grew its holdings in RenaissanceRe by 43.6% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,450 shares of the insurance provider’s stock worth $174,000 after acquiring an additional 440 shares during the last quarter. Engineers Gate Manager LP bought a new stake in RenaissanceRe during the 3rd quarter worth about $200,000. Finally, Commonwealth Equity Services LLC bought a new stake in RenaissanceRe during the 1st quarter worth about $207,000. Institutional investors own 94.80% of the company’s stock.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its 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, such as 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, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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