Bank of America Securities analyst Joshua Shanker reiterated a Buy rating on Renaissancere Holdings yesterday and set a price target of $422.00.
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Joshua Shanker has given his Buy rating due to a combination of factors, including RenaissanceRe Holdings’ strong financial performance in the second quarter of 2025. The company’s operating earnings per share significantly exceeded both Shanker’s and the market’s expectations, driven by favorable loss developments and lower acquisition expenses. Additionally, the company managed to maintain a robust return on equity despite challenges in the property sector, showcasing its resilience and effective risk management.
Shanker also notes that RenaissanceRe’s conservative approach to loss reserving in its Casualty & Specialty books could lead to future earnings improvements. The company’s ability to repurchase shares, even amid the wind season, further demonstrates its financial strength. Despite some headwinds, Shanker believes that RenaissanceRe offers an attractive risk-return profile, with its shares trading at a reasonable multiple of tangible book value. These factors collectively support his Buy recommendation, as he sees material upside potential in the stock’s price objective.
According to TipRanks, Shanker is a 5-star analyst with an average return of 8.5% and a 60.29% success rate. Shanker covers the Financial sector, focusing on stocks such as Progressive, Brown & Brown, and Renaissancere Holdings.
In another report released on July 14, Morgan Stanley also maintained a Buy rating on the stock with a $280.00 price target.