RenaissanceRe (NYSE:RNR) Stock Rating Upgraded by StockNews.com

RenaissanceRe (NYSE:RNR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

A number of other equities research analysts have also weighed in on RNR. Evercore ISI raised their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley reduced their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Bank of America increased their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $263.40.

RenaissanceRe Stock Up 1.2 %

Shares of NYSE:RNR traded up $2.60 during midday trading on Monday, hitting $227.10. 219,825 shares of the company’s stock traded hands, compared to its average volume of 341,070. RenaissanceRe has a twelve month low of $174.22 and a twelve month high of $239.42. The company has a market cap of $12.01 billion, a PE ratio of 5.02, a P/E/G ratio of 1.26 and a beta of 0.38. 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 firm’s fifty day moving average price is $223.97 and its two-hundred day moving average price is $223.96.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping the consensus estimate of $9.86 by $2.32. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.16 earnings per share. On average, equities research analysts anticipate that RenaissanceRe will post 37.43 EPS for the current fiscal year.

Insider Transactions at RenaissanceRe

In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,598,352.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RNR. CWM LLC boosted its stake in shares of RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after acquiring an additional 49 shares in the last quarter. State of Alaska Department of Revenue increased its stake in RenaissanceRe by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after purchasing an additional 50 shares in the last quarter. Hilltop National Bank raised its holdings in RenaissanceRe by 14.9% during the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock worth $89,000 after buying an additional 52 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in RenaissanceRe by 1.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after buying an additional 73 shares in the last quarter. Finally, Benedict Financial Advisors Inc. boosted its holdings in shares of RenaissanceRe by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock worth $2,866,000 after buying an additional 77 shares during the period. 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.