Cantor Fitzgerald Forecasts Strong Price Appreciation for RenaissanceRe (NYSE:RNR) Stock

RenaissanceRe (NYSE:RNR) had its price objective boosted by investment analysts at Cantor Fitzgerald from $252.00 to $282.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 2.35% from the company’s current price.

RNR has been the topic of several other research reports. UBS Group increased their price target on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Mizuho assumed coverage on shares of RenaissanceRe in a research note on Monday, December 15th. They issued a “neutral” rating and a $281.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Evercore ISI upped their price target on shares of RenaissanceRe from $250.00 to $283.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $298.07.

RenaissanceRe Stock Up 2.0%

NYSE:RNR traded up $5.42 during trading hours on Wednesday, reaching $275.52. The company’s stock had a trading volume of 39,035 shares, compared to its average volume of 393,531. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 6.47 and a beta of 0.26. RenaissanceRe has a one year low of $219.00 and a one year high of $285.26. The business’s 50-day moving average is $270.09 and its 200-day moving average is $254.11.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.23 earnings per share. Equities research analysts predict that RenaissanceRe will post 26.04 EPS for the current year.

Institutional Investors Weigh In On RenaissanceRe

Several hedge funds have recently made changes to their positions in RNR. Hantz Financial Services Inc. raised its holdings in RenaissanceRe by 707.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter worth approximately $29,000. Huntington National Bank boosted its stake in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of RenaissanceRe by 151.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

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.