JMP Securities Reiterates Market Perform Rating for RenaissanceRe (NYSE:RNR)

RenaissanceRe (NYSE:RNR)‘s stock had its “market perform” rating reiterated by investment analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other research analysts have also issued reports on RNR. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $284.00 to $234.00 in a report on Monday, January 6th. Bank of America raised their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $283.45.

RenaissanceRe Trading Down 2.5 %

NYSE:RNR opened at $232.52 on Thursday. The firm has a market cap of $12.08 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.44. The stock has a fifty day moving average price of $259.85 and a 200 day moving average price of $257.20. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.51% and a net margin of 15.99%. Sell-side analysts anticipate that RenaissanceRe will post 34.22 earnings per share for the current fiscal year.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC increased its position in RenaissanceRe by 46.1% in the 4th quarter. Kestra Investment Management LLC now owns 1,991 shares of the insurance provider’s stock valued at $495,000 after acquiring an additional 628 shares during the period. Venturi Wealth Management LLC increased its position in RenaissanceRe by 2,420.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,008 shares of the insurance provider’s stock valued at $251,000 after acquiring an additional 968 shares during the period. CIBC Asset Management Inc increased its position in RenaissanceRe by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,610 shares of the insurance provider’s stock valued at $401,000 after acquiring an additional 80 shares during the period. Principal Securities Inc. increased its position in RenaissanceRe by 11.9% in the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock valued at $141,000 after acquiring an additional 60 shares during the period. Finally, Autumn Glory Partners LLC increased its position in RenaissanceRe by 100.0% in the 4th quarter. Autumn Glory Partners LLC now owns 2,000 shares of the insurance provider’s stock valued at $498,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.