RenaissanceRe (NYSE:RNR) Upgraded to Equal Weight at Barclays

RenaissanceRe (NYSE:RNR - Get Free Report) was upgraded by investment analysts at Barclays from an "underweight" rating to an "equal weight" rating in a report released on Monday,Briefing.com Automated Import reports. The firm currently has a $256.00 target price on the insurance provider's stock. Barclays's price objective indicates a potential upside of 6.27% from the company's current price.

Several other equities analysts have also weighed in on RNR. Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods lifted their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Bank of America dropped their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and a consensus target price of $286.10.

RenaissanceRe Trading Up 2.1%

NYSE RNR opened at $240.90 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. RenaissanceRe has a 1-year low of $210.51 and a 1-year high of $300.00. The firm's fifty day simple moving average is $244.14 and its 200-day simple moving average is $242.58. The company has a market capitalization of $11.72 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 2.89 and a beta of 0.30.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The firm had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same quarter last year, the firm earned $12.18 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the transaction, the chief accounting officer directly owned 27,154 shares in the company, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of RenaissanceRe

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in RenaissanceRe by 17.9% during the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock worth $203,339,000 after buying an additional 124,125 shares during the period. Miracle Mile Advisors LLC bought a new position in RenaissanceRe during the 1st quarter worth about $271,000. Trexquant Investment LP acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at about $561,000. Yorktown Management & Research Co Inc bought a new stake in shares of RenaissanceRe in the first quarter valued at about $348,000. Finally, Deutsche Bank AG boosted its position in shares of RenaissanceRe by 4.2% during the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock worth $2,666,000 after buying an additional 431 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.