RenaissanceRe (NYSE:RNR) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets initiated coverage on shares of RenaissanceRe (NYSE:RNRGet Rating) in a report released on Thursday, The Fly reports. The firm set a “market perform” rating and a $187.00 price target on the insurance provider’s stock. BMO Capital Markets’ price target would suggest a potential downside of 2.25% from the company’s current price.

Several other equities analysts also recently commented on RNR. Morgan Stanley upped their price target on shares of RenaissanceRe from $150.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. StockNews.com raised shares of RenaissanceRe from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, Wells Fargo & Company boosted their price target on RenaissanceRe from $200.00 to $234.00 and gave the company an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $194.50.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $191.30 on Thursday. RenaissanceRe has a 12 month low of $124.18 and a 12 month high of $199.85. The company has a market capitalization of $8.36 billion, a P/E ratio of -6.12 and a beta of 0.43. The stock has a 50 day moving average of $186.66 and a 200-day moving average of $157.83. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28.

RenaissanceRe (NYSE:RNRGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The insurance provider reported ($9.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($7.42) by ($1.85). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.70 billion. RenaissanceRe had a positive return on equity of 4.76% and a negative net margin of 29.35%. As a group, equities research analysts predict that RenaissanceRe will post 5.38 EPS for the current year.

Insider Buying and Selling at RenaissanceRe

In related news, SVP Sean G. Brosnan sold 850 shares of the company’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $187.74, for a total transaction of $159,579.00. Following the completion of the sale, the senior vice president now directly owns 19,038 shares in the company, valued at approximately $3,574,194.12. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Heritage Wealth Management LLC bought a new stake in RenaissanceRe during the 2nd quarter worth $28,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of RenaissanceRe in the third quarter valued at approximately $28,000. Neo Ivy Capital Management bought a new position in RenaissanceRe in the 3rd quarter valued at approximately $29,000. Geneos Wealth Management Inc. acquired a new stake in RenaissanceRe during the 2nd quarter worth approximately $31,000. Finally, Wipfli Financial Advisors LLC bought a new stake in RenaissanceRe during the 3rd quarter worth approximately $34,000. 95.52% of the stock is owned by institutional investors.

About RenaissanceRe

(Get Rating)

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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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