RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned an average rating of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $340.00.

RNR has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on shares of RenaissanceRe in a report on Tuesday, September 22nd. They issued a “sector perform” rating and a $365.00 price objective on the stock. UBS Group set a $349.00 price objective on shares of RenaissanceRe and gave the stock a “neutral” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Weiss Ratings raised shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Mizuho raised their target price on shares of RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th.

RenaissanceRe Stock Up 1.9%

NYSE:RNR opened at $338.41 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market cap of $14.06 billion, a PE ratio of 9.73, a PEG ratio of 0.91 and a beta of 0.12. RenaissanceRe has a 52-week low of $248.64 and a 52-week high of $363.84. The stock has a 50-day simple moving average of $332.70 and a 200 day simple moving average of $309.71.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.56 by $2.15. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $15.62 EPS. On average, sell-side analysts expect that RenaissanceRe will post 46.95 EPS for the current fiscal year.

Hedge Funds Weigh In On RenaissanceRe

A number of large investors have recently modified their holdings of the business. Ashurst Perkins Coie Trust Co acquired a new stake in shares of RenaissanceRe in the third quarter valued at about $26,000. Elevation Wealth Partners LLC raised its holdings in RenaissanceRe by 90.0% during the third quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 45 shares in the last quarter. Continuum Advisory LLC bought a new stake in RenaissanceRe during the second quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in RenaissanceRe during the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc boosted its position in RenaissanceRe by 155.3% during the third quarter. Versant Capital Management Inc now owns 194 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 118 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.