Morgan Stanley Keeps a Hold Rating on Renaissancere Holdings Ltd (RNR)

By Carrie Williams

Morgan Stanley analyst Kai Pan maintained a Hold rating on Renaissancere Holdings Ltd (RNRResearch Report) today and set a price target of $136. The company’s shares closed yesterday at $120.82, close to its 52-week low of $116.50.

According to TipRanks.com, Pan is a 3-star analyst with an average return of 2.9% and a 56.3% success rate. Pan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Arthur J Gallagher & Co.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Renaissancere Holdings Ltd with a $141.33 average price target, implying a 17.0% upside from current levels. In a report issued on November 8, Citigroup also downgraded the stock to Hold with a $139 price target.

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The company has a one-year high of $142.56 and a one-year low of $116.50. Currently, Renaissancere Holdings Ltd has an average volume of 244.6K.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.

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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.