RenaissanceRe (NYSE:RNR) PT Set at $285.00 by Morgan Stanley

RenaissanceRe (NYSE:RNR) has been assigned a $285.00 price target by analysts at Morgan Stanley in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential upside of 19.27% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Bank of America cut their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Barclays decreased their target price on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. Jefferies Financial Group reduced their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $283.60.

RenaissanceRe Stock Down 2.2%

NYSE RNR opened at $238.95 on Monday. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 2.09 and a beta of 0.34. RenaissanceRe has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $240.48 and a 200-day moving average of $248.57.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $12.18 earnings per share. On average, equities research analysts expect that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now owns 27,154 shares of the company’s stock, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of RenaissanceRe

A number of institutional investors have recently bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 buying an additional 41 shares during the period. Advisors Asset Management Inc. raised its position in RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 42 shares in the last quarter. UMB Bank n.a. grew its position in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. raised its holdings in shares of RenaissanceRe by 1.1% in the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock valued at $1,156,000 after acquiring an additional 52 shares in the last quarter. Finally, AMG National Trust Bank grew its holdings in RenaissanceRe by 1.3% during the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock worth $1,166,000 after acquiring an additional 59 shares in the last quarter. 99.97% of the stock is currently 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.