Keefe, Bruyette & Woods Issues Positive Forecast for RenaissanceRe (NYSE:RNR) Stock Price

RenaissanceRe (NYSE:RNR - Get Free Report) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $279.00 to $282.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 16.47% from the company's current price.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $235.00 to $275.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $282.60.

RenaissanceRe Stock Performance

NYSE RNR traded up $4.24 during midday trading on Tuesday, hitting $242.13. The company had a trading volume of 165,935 shares, compared to its average volume of 539,060. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 6.91, a P/E/G ratio of 2.09 and a beta of 0.29. The firm has a fifty day simple moving average of $237.81 and a two-hundred day simple moving average of $251.74. RenaissanceRe has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm posted $12.18 earnings per share. RenaissanceRe's revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe in the 4th quarter worth $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds 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.

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