RenaissanceRe (NYSE:RNR) Given Hold Rating at Jefferies Financial Group

RenaissanceRe (NYSE:RNR)‘s stock had its “hold” rating reissued by analysts at Jefferies Financial Group in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $282.00 price target on the insurance provider’s stock, down from their previous price target of $304.00. Jefferies Financial Group’s target price would indicate a potential upside of 10.51% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RNR. Keefe, Bruyette & Woods reduced their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Citigroup raised their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI boosted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective for the company. Finally, StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $290.09.

RenaissanceRe Stock Down 1.9 %

Shares of NYSE RNR opened at $255.19 on Wednesday. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 3.68, a PEG ratio of 1.31 and a beta of 0.41. RenaissanceRe has a 1 year low of $190.89 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50-day simple moving average is $272.33 and its 200-day simple moving average is $250.96.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $8.33 EPS. RenaissanceRe’s quarterly revenue was up 52.1% on a year-over-year basis. As a group, equities analysts anticipate that RenaissanceRe will post 41.94 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $30,000. Blue Trust Inc. purchased a new stake in RenaissanceRe during the second quarter valued at about $27,000. UMB Bank n.a. boosted its holdings in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of RenaissanceRe in the third quarter worth about $45,000. Finally, V Square Quantitative Management LLC increased its position in shares of RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 41 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

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.