RenaissanceRe Holdings Ltd’s stock climbed to an all-time intraday high of $336.36 on Friday, extending a 36% gain over the past year. The Bermuda-based reinsurer, valued at $13.8 billion, has traded within 1% of its 52-week high of $335.97.
The advance follows second-quarter results that surpassed analyst forecasts. Operating earnings reached $12.92 per share, topping Wall Street’s $11.60 estimate, while revenue totaled $2.77 billion against expectations of $2.57 billion. Tangible book value rose 6% during the quarter and 27% year-over-year, while the company’s annualized operating return on equity stood at 20.1%.
Analysts at Keefe, Bruyette & Woods raised RenaissanceRe’s price target to $350 from $342, maintaining a Market Perform rating. The firm also updated its earnings estimates for 2026, 2027, and initiated a forecast for 2028. Mizuho similarly lifted its target to $338 from $329, keeping a Neutral rating and adjusting its multi-year earnings projections.
RenaissanceRe’s shares are currently flagged as most overvalued on InvestingPro’s platform, trading at a premium to estimated fair value. The company also maintains a 31-year streak of dividend increases, underscoring its consistency in capital returns.
