Evercore ISI Increases RenaissanceRe (NYSE:RNR) Price Target to $216.00

RenaissanceRe (NYSE:RNR) had its price target increased by equities research analysts at Evercore ISI from $213.00 to $216.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the insurance provider’s stock. Evercore ISI’s price target would indicate a potential upside of 0.10% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets upped their price target on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group upped their price target on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, TD Cowen began coverage on RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $215.78 on Thursday. RenaissanceRe has a 12 month low of $174.22 and a 12 month high of $239.42. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 4.21, a PEG ratio of 2.89 and a beta of 0.30. The stock’s 50 day moving average price is $228.54 and its 200 day moving average price is $214.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company earned $7.33 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts anticipate that RenaissanceRe will post 34.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the transaction, the director now directly owns 5,363 shares in the company, valued at approximately $1,220,565.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total value of $209,050.00. Following the completion of the sale, the executive vice president now directly owns 80,449 shares in the company, valued at $16,817,863.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The disclosure for this sale can be found here. Insiders have sold a total of 5,130 shares of company stock worth $1,167,479 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

A number of large investors have recently bought and sold shares of RNR. Earnest Partners LLC boosted its holdings in RenaissanceRe by 2.9% during the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock valued at $108,558,000 after acquiring an additional 15,692 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in RenaissanceRe by 95.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,915 shares of the insurance provider’s stock valued at $3,348,000 after acquiring an additional 8,281 shares during the period. Manning & Napier Group LLC boosted its holdings in RenaissanceRe by 67.3% during the third quarter. Manning & Napier Group LLC now owns 122,963 shares of the insurance provider’s stock valued at $24,337,000 after acquiring an additional 49,475 shares during the period. UBS Group AG boosted its holdings in RenaissanceRe by 44.7% during the third quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock valued at $4,139,000 after acquiring an additional 6,456 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in RenaissanceRe by 3.6% during the third quarter. Royal London Asset Management Ltd. now owns 17,937 shares of the insurance provider’s stock valued at $3,553,000 after acquiring an additional 619 shares during the period. 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.