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Morgan Stanley Keeps Their Hold Rating on Renaissancere Holdings (RNR)

In a report released today, Michael Phillips CFA from Morgan Stanley maintained a Hold rating on Renaissancere Holdings (RNRResearch Report), with a price target of $195.00. The company’s shares opened today at $183.90.

Phillips CFA covers the Financial sector, focusing on stocks such as Everest Re, Hippo Holdings, and Chubb. According to TipRanks, Phillips CFA has an average return of 2.2% and a 58.54% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Renaissancere Holdings with a $179.00 average price target.

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Based on Renaissancere Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.28 billion and a GAAP net loss of $816.5 million. In comparison, last year the company earned a revenue of $1.54 billion and had a GAAP net loss of $440.38 million

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RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following segments: Property, Casualty and Specialty, and Other. The Property segment comprises of catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance and insurance. The Other segment includes strategic investments, investments unit, corporate expense, capital servicing costs, and non-controlling interests. The company was founded by Neill A. Currie on June 7, 1993 and is headquartered in Pembroke, Bermuda.

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