Barclays Boosts RenaissanceRe (NYSE:RNR) Price Target to $341.00

RenaissanceRe (NYSE:RNR) had its price objective boosted by equities research analysts at Barclays from $328.00 to $341.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price target suggests a potential upside of 4.82% from the company’s previous close.

A number of other research firms have also recently weighed in on RNR. Bank of America cut their price objective on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Citigroup raised shares of RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $335.00 to $345.00 in a research note on Wednesday, June 10th. Wolfe Research set a $315.00 price target on shares of RenaissanceRe in a report on Tuesday. Finally, UBS Group increased their price objective on shares of RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $326.27.

RenaissanceRe Trading Up 0.7%

Shares of NYSE:RNR traded up $2.20 during trading on Tuesday, hitting $325.31. The company had a trading volume of 65,094 shares, compared to its average volume of 367,270. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The company has a fifty day simple moving average of $300.00 and a two-hundred day simple moving average of $294.67. RenaissanceRe has a one year low of $231.17 and a one year high of $329.57.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The firm had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. As a group, equities analysts forecast that RenaissanceRe will post 40.05 earnings per share for the current year.

Institutional Trading of RenaissanceRe

A number of large investors have recently made changes to their positions in RNR. SBI Securities Co. Ltd. increased its stake in RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after buying an additional 37 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 20.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock valued at $65,000 after buying an additional 39 shares during the period. Beacon Pointe Advisors LLC boosted its position in RenaissanceRe by 2.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock valued at $522,000 after buying an additional 40 shares during the period. Signaturefd LLC grew its stake in RenaissanceRe by 8.9% in the 4th quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 41 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its stake in RenaissanceRe by 1.5% in the 1st quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock worth $985,000 after acquiring an additional 48 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Company Profile

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.