Citigroup Upgrades RenaissanceRe Holdings to Buy
Citigroup raises RenaissanceRe Holdings' rating to 'buy' with a new $345 price target, a 14.66% upside from the current price.
Key Points
- Citigroup upgraded RenaissanceRe Holdings (NYSE:RNR) to 'buy' with a new $345 price target on June 10, 2026.
- Citigroup's $345 price target implies 14.66% upside from RenaissanceRe Holdings Ltd.'s ($RNR) current $300.88 share price.
- RenaissanceRe's stock trades around $300.88 with a market cap of $12.83 billion and a P/E ratio of 5.07.
- Recent insider trades include sales and purchases by executives, while analysts have mixed ratings on the stock.
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On June 10, 2026, Citigroup analyst Matthew Heimermann upgraded RenaissanceRe Holdings Ltd. (NYSE:RNR) to a 'buy' rating. The firm set a new price target of $345, reflecting its positive outlook on the stock. Shares of RenaissanceRe were trading around $300.88 at the time of the upgrade.
Other Institutional Activity in RenaissanceRe Holdings
Several institutional investors have adjusted their positions in RenaissanceRe Holdings. BlackRock, Inc. reduced its holdings by 41,227 shares, ending with 4,106,502 shares valued at approximately $1.22 billion. State Farm Mutual Automobile Insurance Co held steady with 2,399,303 shares worth $713.1 million. Vanguard Portfolio Management LLC initiated a position, adding 2,290,265 shares valued at $680.7 million. Meanwhile, State Street Corp decreased its stake by 80,324 shares, bringing its total to 1,656,699 shares worth $492.4 million. Boston Partners increased its holdings by 188,281 shares, now holding 1,611,764 shares valued at $479.1 million.
RenaissanceRe Holdings Ltd. Stock Down 9.0%
Shares of RenaissanceRe Holdings (NYSE:RNR) are trading near $300.88. The company has a market cap of approximately $12.83 billion. Its P/E ratio is 5.07, suggesting a potentially undervalued stock compared to its earnings. The stock's 52-week range spans from $231.17 to $318.20, with a 50-day moving average of $299.10 and a 200-day moving average of $278.22. RenaissanceRe's beta is 0.192, indicating lower volatility compared to the market. The company maintains a current ratio of 1.36 and a quick ratio of 1.19, with a debt-to-equity ratio of 12.57.
Recent Earnings
In its latest earnings report, RenaissanceRe Holdings posted revenue of approximately $11.59 billion, although it experienced a revenue decline of 36.6%. The company reported an EPS of $59.33, with a net margin of 24.2% and a return on equity of 23.4%. The next earnings announcement is scheduled for April 28, 2026.
Dividend
RenaissanceRe Holdings offers an annual dividend rate of $1.64, yielding 0.55%. The dividend payout ratio is low at 2.71%, indicating a conservative approach to dividend distribution.
Insider Buying and Selling at RenaissanceRe Holdings Ltd.
Recent insider transactions at RenaissanceRe Holdings include several sales and purchases. On May 18, 2026, Carol Sanders sold 1,479 shares at an average price of $297.36. Earlier, on May 11, 2026, Henry Klehm III and Stephen Hooley each purchased 506 and 591 shares, respectively. On March 10, 2026, CFO Robert Qutub sold 979 shares, while CEO Kevin O'Donnell sold 2,424 shares.
Analysts Set New Price Targets
On June 10, 2026, Citigroup upgraded RenaissanceRe Holdings to a 'buy' rating with a new price target of $345. Previously, UBS maintained a 'hold' rating with a $326 target on May 4, 2026. Other firms, including Barclays and B of A Securities, have set targets ranging from $305 to $426, with mixed ratings of 'hold' and 'buy'. The consensus rating for RenaissanceRe is 'hold', with an average target price of $325.47 based on 15 analyst opinions.
About RenaissanceRe Holdings Ltd.
RenaissanceRe Holdings Ltd. is a reinsurance and insurance company based in Pembroke, Bermuda. Founded in 1993, it operates through two main segments: Property, and Casualty and Specialty. The company provides coverage for natural and man-made disasters, as well as various specialty insurance products. RenaissanceRe distributes its offerings primarily through intermediaries and invests in and manages funds. The company is led by CEO Kevin Joseph O'Donnell and employs around 1,040 people.
Bottom Line
Citigroup's recent upgrade to 'buy' for RenaissanceRe Holdings reflects confidence in the company's potential. Investors keep a close eye on such ratings as they can influence market perceptions. It's important to remember that these analyst opinions are forward-looking and based on available data.
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