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

RenaissanceRe (NYSE:RNR) had its price target upped by analysts at Keefe, Bruyette & Woods from $279.00 to $282.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 16.63% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $235.00 to $275.00 in a research note on Friday, April 25th. Wells Fargo & Company cut their price objective on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, Barclays decreased their price target on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $282.60.

RenaissanceRe Stock Down 0.1 %

Shares of RNR opened at $241.79 on Tuesday. RenaissanceRe has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company’s fifty day moving average is $238.37 and its two-hundred day moving average is $251.60. The firm has a market cap of $11.85 billion, a PE ratio of 6.90, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. 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 (NYSE:RNR) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the firm posted $12.18 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in shares of RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock valued at $6,244,000 after buying an additional 8,333 shares during the last quarter. World Investment Advisors LLC bought a new stake in RenaissanceRe during the third quarter worth about $16,176,000. Wilmington Savings Fund Society FSB bought a new position in RenaissanceRe in the 3rd quarter valued at $405,000. Tidal Investments LLC grew its holdings in shares of RenaissanceRe by 2.6% during the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider’s stock worth $2,516,000 after purchasing an additional 232 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of RenaissanceRe by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider’s stock valued at $293,000 after buying an additional 220 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

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.