RenaissanceRe (NYSE:RNR) Price Target Raised to $329.00

RenaissanceRe (NYSE:RNR) had its price target increased by equities research analysts at Mizuho from $325.00 to $329.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Mizuho’s target price points to a potential upside of 3.47% from the company’s previous close.

A number of other brokerages have also recently weighed in on RNR. Barclays raised their price objective on RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a report on Tuesday. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price target for the company from $335.00 to $345.00 in a research report on Wednesday, June 10th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. UBS Group upped their price objective on shares of RenaissanceRe from $326.00 to $342.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America reduced their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $328.60.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $317.98 on Thursday. RenaissanceRe has a one year low of $231.17 and a one year high of $329.57. The company’s fifty day moving average price is $300.54 and its 200-day moving average price is $295.34. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 1.21 and a beta of 0.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The business had revenue of $2.19 billion for the quarter. On average, equities research analysts anticipate that RenaissanceRe will post 40.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RenaissanceRe

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the period. Kingdom Financial Group LLC. purchased a new position in RenaissanceRe during the 4th quarter valued at about $36,000. Mcguire Capital Advisors Inc. bought a new position in RenaissanceRe during the 4th quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. raised its position in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

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.