RenaissanceRe (NYSE:RNR) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
RNR has been the subject of several other research reports. Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “strong-buy” rating and set a $160.00 target price for the company in a report on Thursday, October 4th. Citigroup lowered their target price on shares of RenaissanceRe from $161.00 to $153.00 and set a “buy” rating for the company in a report on Monday, October 22nd. 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 report on Wednesday, October 3rd. Finally, Wells Fargo & Co set a $130.00 target price on shares of RenaissanceRe and gave the company a “hold” rating in a report on Wednesday, October 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $142.80.
Shares of RenaissanceRe stock opened at $126.55 on Wednesday. RenaissanceRe has a 12-month low of $116.50 and a 12-month 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. The firm has a market capitalization of $5.00 billion, a PE ratio of -15.16, a P/E/G ratio of 1.22 and a beta of 0.65.
RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.42. RenaissanceRe had a net margin of 15.07% and a return on equity of 10.52%. The business had revenue of $453.30 million during the quarter, compared to analysts’ expectations of $416.49 million. During the same quarter in the prior year, the business posted ($13.81) EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts expect that RenaissanceRe will post 10.2 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in RenaissanceRe by 9.4% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,794 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 411 shares during the period. Crossmark Global Holdings Inc. boosted its stake in RenaissanceRe by 7.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,872 shares of the insurance provider’s stock worth $707,000 after purchasing an additional 430 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in RenaissanceRe by 13.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,624 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 436 shares during the period. Daiwa SB Investments Ltd. boosted its stake 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 purchasing an additional 440 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in RenaissanceRe by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,673 shares of the insurance provider’s stock worth $1,886,000 after purchasing an additional 451 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.
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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