RenaissanceRe (NYSE:RNR) Price Target Raised to $306.00 at Wells Fargo & Company

RenaissanceRe (NYSE:RNRFree Report) had its price objective raised by Wells Fargo & Company from $281.00 to $306.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages have also issued reports on RNR. Barclays raised their target price on shares of RenaissanceRe from $278.00 to $304.00 and gave the company an “equal weight” rating in a research note on Thursday, January 8th. UBS Group raised their price objective on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating and issued a $300.00 price target on shares of RenaissanceRe in a research note on Tuesday, December 16th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $267.00 price objective on shares of RenaissanceRe in a research note on Wednesday, January 7th. Finally, Evercore ISI raised their target price on RenaissanceRe from $283.00 to $291.00 and gave the stock an “in-line” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $300.27.

Check Out Our Latest Report on RenaissanceRe

RenaissanceRe Stock Up 1.6%

Shares of RNR opened at $305.04 on Thursday. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 3.14 and a beta of 0.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.43. The business’s fifty day moving average price is $275.31 and its two-hundred day moving average price is $258.58. RenaissanceRe has a 52 week low of $219.00 and a 52 week high of $310.80.

RenaissanceRe (NYSE:RNRGet Free Report) last released its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.06 earnings per share. On average, analysts predict that RenaissanceRe will post 26.04 earnings per share for the current year.

Institutional Trading of RenaissanceRe

A number of institutional investors have recently modified their holdings of RNR. Hantz Financial Services Inc. raised its position in RenaissanceRe by 707.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter worth approximately $29,000. IFP Advisors Inc grew its stake in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 72 shares in the last quarter. Huntington National Bank raised its holdings in shares of RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position 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 purchasing an additional 79 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Key Stories Impacting RenaissanceRe

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RenaissanceRe Company Profile

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RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

Further Reading

Analyst Recommendations for RenaissanceRe (NYSE:RNR)

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