RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Average Recommendation of “Hold” from Brokerages

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $289.00.

A number of research firms have weighed in on RNR. Evercore ISI upped their target price on RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a report on Wednesday, October 9th. Bank of America upped their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley reduced their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group upped their target price on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup boosted their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th.

RenaissanceRe Stock Up 1.1 %

RNR stock opened at $269.29 on Wednesday. RenaissanceRe has a fifty-two week low of $188.24 and a fifty-two week high of $284.36. The business’s 50 day moving average price is $266.38 and its two-hundred day moving average price is $240.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 1.73 and a beta of 0.39.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RenaissanceRe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in RenaissanceRe during the 2nd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe during the 3rd quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe during the 2nd quarter valued at $31,000. UMB Bank n.a. raised its stake in RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after buying an additional 95 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in RenaissanceRe during the 1st quarter valued at $46,000. 99.97% of the stock is owned by institutional investors.

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.