RenaissanceRe (NYSE:RNR) Stock Price Expected to Rise, Barclays Analyst Says

RenaissanceRe (NYSE:RNR - Get Free Report) had its price objective increased by investment analysts at Barclays from $256.00 to $273.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the insurance provider's stock. Barclays's target price points to a potential upside of 14.81% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Bank of America decreased their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $268.00 target price (down from $282.00) on shares of RenaissanceRe in a report on Wednesday, July 9th. Morgan Stanley dropped their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $269.00 price objective (up from $267.00) on shares of RenaissanceRe in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $289.89.

RenaissanceRe Trading Up 0.2%

Shares of RNR traded up $0.54 during mid-day trading on Thursday, reaching $237.79. 292,404 shares of the company's stock traded hands, compared to its average volume of 491,092. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $11.57 billion, a P/E ratio of 7.58, a P/E/G ratio of 2.78 and a beta of 0.30. The stock's 50-day moving average is $242.46 and its two-hundred day moving average is $241.63. RenaissanceRe has a 12 month low of $210.51 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the firm posted $12.41 EPS. RenaissanceRe's revenue was down 2.4% compared to the same quarter last year. Research analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of RenaissanceRe

Several large investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe during the 4th quarter valued at $27,000. Brooklyn Investment Group raised its stake in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. Tsfg LLC acquired a new position in RenaissanceRe during the 1st quarter valued at $40,000. MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider's stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. Finally, LRI Investments LLC raised its stake in shares of RenaissanceRe by 116.5% in the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock valued at $63,000 after buying an additional 141 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

About RenaissanceRe

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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