RenaissanceRe’s (RNR) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of RenaissanceRe (NYSE:RNR) in a research report report published on Friday,Weiss Ratings reports.

RNR has been the subject of a number of other research reports. Evercore ISI set a $244.00 target price on RenaissanceRe and gave the company an “in-line” rating in a report on Wednesday, October 1st. Morgan Stanley dropped their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Cowen reiterated a “hold” rating on shares of RenaissanceRe in a research note on Tuesday, October 7th. Wolfe Research began coverage on shares of RenaissanceRe in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, Citigroup began coverage on shares of RenaissanceRe in a research note on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $283.67.

RenaissanceRe Stock Down 0.1%

RNR stock opened at $254.21 on Friday. The firm’s 50-day moving average is $248.46 and its two-hundred day moving average is $244.55. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.27. RenaissanceRe has a 52 week low of $219.00 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $10.23 EPS. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RenaissanceRe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its stake in shares of RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. IFP Advisors Inc raised its stake in shares of RenaissanceRe by 160.0% in the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 72 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of RenaissanceRe in the third quarter worth about $29,000. Huntington National Bank raised its stake in shares of RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of RenaissanceRe by 151.9% in the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 79 shares during 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.