RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Rating of “Hold” from Brokerages

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $289.00.

Several brokerages have commented on RNR. Citigroup raised their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays started coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RenaissanceRe

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC raised its stake in shares of RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RenaissanceRe by 19.8% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after buying an additional 45 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of RenaissanceRe by 4.6% in the third quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after buying an additional 47 shares in the last quarter. State of Alaska Department of Revenue raised its position in RenaissanceRe by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after purchasing an additional 50 shares during the period. Finally, Hilltop National Bank raised its position in RenaissanceRe by 14.9% during the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 52 shares during the period. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $264.07 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $13.77 billion, a P/E ratio of 5.22, a P/E/G ratio of 1.71 and a beta of 0.39. The business has a 50-day moving average price of $266.06 and a two-hundred day moving average price of $240.19. RenaissanceRe has a 1-year low of $188.24 and a 1-year high of $284.36.

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.