Analysts at Citigroup Inc. started coverage on shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in a research note issued on Tuesday. The firm set a “neutral” rating and a $143.00 price target on the stock. Citigroup Inc.’s price target would suggest a potential upside of 9.49% from the stock’s previous close.

A number of other equities analysts also recently commented on RNR. 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 report on Thursday, July 28th. Zacks Investment Research upgraded RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Goldman Sachs Group Inc. upgraded RenaissanceRe Holdings from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $101.00 to $125.00 in a report on Tuesday, November 15th. Finally, Deutsche Bank AG downgraded RenaissanceRe Holdings from a “buy” rating to a “hold” rating and set a $131.78 price objective on the stock. in a report on Monday. Seven research analysts have rated the stock with a hold rating, RenaissanceRe Holdings presently has an average rating of “Hold” and an average price target of $126.72.

Analyst Recommendations for RenaissanceRe Holdings (NYSE:RNR)

Shares of RenaissanceRe Holdings (NYSE:RNR) opened at 130.60 on Tuesday. The company has a 50-day moving average of $125.24 and a 200 day moving average of $118.86. RenaissanceRe Holdings has a 12-month low of $107.27 and a 12-month high of $132.43. The firm has a market capitalization of $5.37 billion, a PE ratio of 11.10 and a beta of 0.46.

RenaissanceRe Holdings (NYSE:RNR) last issued its earnings results on Tuesday, November 1st. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.30. The company had revenue of $442.47 million for the quarter, compared to the consensus estimate of $488.38 million. RenaissanceRe Holdings had a return on equity of 8.54% and a net margin of 30.02%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. On average, analysts predict that RenaissanceRe Holdings will post $6.47 EPS for the current year.

In other news, CEO Kevin Odonnell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $119.33, for a total value of $357,990.00. Following the completion of the sale, the chief executive officer now directly owns 267,944 shares of the company’s stock, valued at $31,973,757.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rider Fonner Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $119.47, for a total value of $179,205.00. Following the completion of the sale, the senior vice president now directly owns 66,753 shares of the company’s stock, valued at $7,974,980.91. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Several large investors have recently bought and sold shares of RNR. ARGA Investment Management LP boosted its position in shares of RenaissanceRe Holdings by 0.7% in the second quarter. ARGA Investment Management LP now owns 6,341 shares of the company’s stock valued at $745,000 after buying an additional 41 shares during the period. CIBC Asset Management Inc boosted its position in shares of RenaissanceRe Holdings by 0.7% in the second quarter. CIBC Asset Management Inc now owns 6,180 shares of the company’s stock valued at $726,000 after buying an additional 43 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RenaissanceRe Holdings by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 5,437 shares of the company’s stock valued at $652,000 after buying an additional 57 shares during the period. Capstone Asset Management Co. boosted its position in shares of RenaissanceRe Holdings by 1.2% in the third quarter. Capstone Asset Management Co. now owns 6,132 shares of the company’s stock valued at $737,000 after buying an additional 70 shares during the period. Finally, US Bancorp DE boosted its position in shares of RenaissanceRe Holdings by 0.9% in the second quarter. US Bancorp DE now owns 9,959 shares of the company’s stock valued at $1,170,000 after buying an additional 85 shares during the period. 94.44% of the stock is owned by institutional investors.

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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.

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