RenaissanceRe (NYSE:RNR) Price Target Increased to $200.00 by Analysts at Buckingham Research

RenaissanceRe (NYSE:RNR) had its price objective increased by Buckingham Research from $192.00 to $200.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Buckingham Research currently has a buy rating on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. Barclays restated a sell rating and issued a $190.00 target price on shares of RenaissanceRe in a research report on Tuesday, January 7th. Zacks Investment Research upgraded shares of RenaissanceRe from a hold rating to a buy rating and set a $201.00 target price on the stock in a research report on Wednesday, October 16th. Citigroup started coverage on shares of RenaissanceRe in a research report on Tuesday, January 21st. They issued a neutral rating and a $192.00 target price on the stock. Finally, Wells Fargo & Co upgraded shares of RenaissanceRe from an equal weight rating to an overweight rating and set a $220.00 target price on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $191.33.

Shares of NYSE:RNR opened at $190.09 on Wednesday. The company’s 50 day simple moving average is $193.52 and its 200 day simple moving average is $188.44. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.58 and a quick ratio of 1.58. RenaissanceRe has a 1 year low of $132.22 and a 1 year high of $201.35.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.72). RenaissanceRe had a net margin of 17.32% and a return on equity of 8.23%. The firm had revenue of $704.13 million during the quarter, compared to the consensus estimate of $574.66 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue was up 55.3% compared to the same quarter last year. As a group, analysts anticipate that RenaissanceRe will post 9.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.34 dividend. The ex-dividend date was Thursday, December 12th. This represents a $1.36 dividend on an annualized basis and a yield of 0.72%. RenaissanceRe’s dividend payout ratio is currently 14.83%.

In other RenaissanceRe news, SVP Jonathan Paradine sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $187.00, for a total value of $1,870,000.00. Following the sale, the senior vice president now owns 50,108 shares in the company, valued at $9,370,196. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of RNR. Clean Yield Group acquired a new position in shares of RenaissanceRe during the third quarter worth $32,000. Vigilant Capital Management LLC acquired a new position in shares of RenaissanceRe during the fourth quarter worth $39,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of RenaissanceRe during the third quarter worth $135,000. Wealthfront Advisers LLC acquired a new position in shares of RenaissanceRe during the fourth quarter worth $203,000. Finally, MML Investors Services LLC acquired a new position in shares of RenaissanceRe during the second quarter worth $204,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About RenaissanceRe

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.

Featured Article: Why is the ex-dividend date different from the record date?

Analyst Recommendations for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit