Keefe, Bruyette & Woods Increases RenaissanceRe (NYSE:RNR) Price Target to $282.00

RenaissanceRe (NYSE:RNR - Get Free Report) had its price target boosted by analysts at Keefe, Bruyette & Woods from $279.00 to $282.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 16.03% from the stock's previous close.

RNR has been the topic of a number of other research reports. Jefferies Financial Group decreased their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company decreased their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $235.00 to $275.00 in a research note on Friday, April 25th. Finally, Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe Trading Up 2.5 %

NYSE RNR traded up $5.85 on Tuesday, reaching $243.05. The stock had a trading volume of 429,140 shares, compared to its average volume of 424,940. The stock has a fifty day moving average price of $238.75 and a two-hundred day moving average price of $250.93. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted 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 firm had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the previous year, the firm posted $12.18 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Hedge Funds Weigh In On RenaissanceRe

Several hedge funds have recently bought and sold shares of RNR. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe in the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after buying an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the period. Hedge funds and other 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.