Goldman Sachs Group Inc. upgraded shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) from a sell rating to a neutral rating in a research note published on Tuesday.

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods increased their price objective on RenaissanceRe Holdings from $130.00 to $134.00 and gave the stock a market perform rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded RenaissanceRe Holdings from a sell rating to a hold rating in a research report on Friday, October 7th. Six investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average price target of $119.14.

Analyst Recommendations for RenaissanceRe Holdings (NYSE:RNR)

RenaissanceRe Holdings (NYSE:RNR) opened at 131.87 on Tuesday. The company’s 50-day moving average price is $124.08 and its 200-day moving average price is $118.28. RenaissanceRe Holdings has a 12-month low of $107.27 and a 12-month high of $132.43. The stock has a market cap of $5.43 billion, a PE ratio of 11.21 and a beta of 0.46.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.79 by $0.30. RenaissanceRe Holdings had a return on equity of 8.54% and a net margin of 30.02%. The firm earned $442.47 million during the quarter, compared to analysts’ expectations of $488.38 million. During the same quarter last year, the firm earned $2.58 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities analysts expect that RenaissanceRe Holdings will post $6.48 EPS for the current fiscal year.

In related news, insider Aditya Dutt sold 599 shares of RenaissanceRe Holdings stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $125.00, for a total transaction of $74,875.00. Following the completion of the transaction, the insider now directly owns 51,049 shares in the company, valued at approximately $6,381,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen Howard Weinstein sold 3,000 shares of RenaissanceRe Holdings stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now owns 82,511 shares of the company’s stock, valued at $9,901,320. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RNR. JPMorgan Chase & Co. increased its position in shares of RenaissanceRe Holdings by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 40,374 shares of the company’s stock valued at $4,837,000 after buying an additional 7,549 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of RenaissanceRe Holdings by 3.7% in the first quarter. Riverhead Capital Management LLC now owns 10,368 shares of the company’s stock valued at $1,242,000 after buying an additional 368 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RenaissanceRe Holdings by 1.9% in the first quarter. Geode Capital Management LLC now owns 305,033 shares of the company’s stock valued at $36,533,000 after buying an additional 5,588 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of RenaissanceRe Holdings by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 16,595 shares of the company’s stock valued at $1,989,000 after buying an additional 100 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its position in shares of RenaissanceRe Holdings by 2.7% in the first quarter. AMP Capital Investors Ltd now owns 26,264 shares of the company’s stock valued at $3,152,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 94.07% of the company’s stock.

About RenaissanceRe Holdings

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.

5 Day Chart for NYSE:RNR

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