Evercore ISI Issues Positive Forecast for RenaissanceRe (NYSE:RNR) Stock Price

RenaissanceRe (NYSE:RNR) had its target price lifted by Evercore ISI from $283.00 to $291.00 in a report released on Wednesday,Benzinga reports. They currently have an in-line rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group boosted their price target on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald lifted their target price on shares of RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays increased their price target on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $285.00 to $281.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $303.00 price objective on shares of RenaissanceRe in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $298.60.

RenaissanceRe Trading Up 5.0%

Shares of NYSE:RNR opened at $300.28 on Wednesday. The firm has a fifty day moving average of $274.43 and a two-hundred day moving average of $258.26. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. RenaissanceRe has a 12-month low of $219.00 and a 12-month high of $303.64. The firm has a market capitalization of $13.85 billion, a P/E ratio of 5.30, a price-to-earnings-growth ratio of 2.99 and a beta of 0.24.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a return on equity of 18.61% and a net margin of 20.88%.RenaissanceRe’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company earned $8.06 earnings per share. On average, equities analysts expect that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Institutional Investors Weigh In On RenaissanceRe

A number of hedge funds have recently bought and sold shares of RNR. Hantz Financial Services Inc. increased its stake in shares of RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 99 shares during the period. IFP Advisors Inc grew its holdings in RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after buying an additional 72 shares during the last quarter. Financial Consulate Inc. bought a new position in RenaissanceRe in the 3rd quarter worth approximately $29,000. Huntington National Bank increased its position in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after buying an additional 55 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after buying an additional 79 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe News Summary

Here are the key news stories impacting RenaissanceRe this week:

• Positive Sentiment: Big Q4 beat — RNR reported $13.34 EPS vs. consensus ~$10.59 and revenue of $2.97B (well above expectations); revenue rose ~29.6% year-over-year, which underpins the stock’s move higher. Read More.
• Positive Sentiment: Claims and investments helped results — lower-than-expected claims costs and strong investment returns boosted underwriting income and overall profitability (improved net margin and ROE). These operational drivers were cited as primary contributors to the upside. Read More.
• Neutral Sentiment: Company commentary and transcript are available for detail — the earnings call and transcript provide management’s take on premium trends, reserving and capital allocation; investors should read the call for forward guidance details. Read More.
• Neutral Sentiment: Analyst positioning is mixed — Evercore raised its price target modestly to $291 but kept an “in-line” rating, implying limited upside from current levels; that may cap some buying momentum. Read More.
• Negative Sentiment: Premium trends remain a potential headwind — several write-ups note that premiums were weaker in the quarter and that future premium rate momentum will be important to sustain revenue growth; weaker premiums could pressure future underwriting if not offset by lower claims or investment gains. Read More.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.