RenaissanceRe's (RNR) "Market Perform" Rating Reiterated at Keefe, Bruyette & Woods

RenaissanceRe (NYSE:RNR - Get Free Report)'s stock had its "market perform" rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $268.00 price target on the insurance provider's stock, down from their prior price target of $282.00. Keefe, Bruyette & Woods' target price points to a potential upside of 11.86% from the company's current price.

A number of other research firms also recently issued reports on RNR. Jefferies Financial Group cut their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research note on Tuesday, April 8th. Barclays upgraded RenaissanceRe from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $231.00 to $256.00 in a research note on Monday. Finally, Morgan Stanley set a $285.00 target price on RenaissanceRe and gave the stock an "overweight" rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of "Hold" and an average target price of $284.70.

RenaissanceRe Stock Down 0.4%

RenaissanceRe stock traded down $1.05 during midday trading on Wednesday, reaching $239.58. The stock had a trading volume of 357,778 shares, compared to its average volume of 444,296. RenaissanceRe has a 12 month low of $210.51 and a 12 month high of $300.00. The company has a market capitalization of $11.66 billion, a P/E ratio of 7.64, a PEG ratio of 2.87 and a beta of 0.30. The company has a fifty day moving average price of $244.14 and a two-hundred day moving average price of $242.50. 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 (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). The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $12.18 earnings per share. As a group, equities analysts expect that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer owned 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% 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 2.00% of the company's stock.

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors have recently bought and sold shares of RNR. First Trust Advisors LP lifted its stake in RenaissanceRe by 462.8% in the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock valued at $215,035,000 after purchasing an additional 710,698 shares during the last quarter. Norges Bank bought a new stake in RenaissanceRe during the 4th quarter valued at $173,530,000. Price T Rowe Associates Inc. MD raised its holdings in RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after acquiring an additional 676,125 shares during the period. Boston Partners raised its holdings in RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after acquiring an additional 446,781 shares during the period. Finally, GAMMA Investing LLC raised its holdings in RenaissanceRe by 33,487.8% during the 1st quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock valued at $95,040,000 after acquiring an additional 394,821 shares during the period. Hedge funds and other 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.