RenaissanceRe (NYSE:RNR) Given "Market Perform" Rating at Keefe, Bruyette & Woods

RenaissanceRe (NYSE:RNR - Get Free Report)'s stock had its "market perform" rating restated by analysts at Keefe, Bruyette & Woods in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $268.00 target price on the insurance provider's stock, down from their previous target price of $282.00. Keefe, Bruyette & Woods' price target suggests a potential upside of 12.95% from the company's current price.

Other equities research analysts also recently issued research reports about the company. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Barclays raised RenaissanceRe from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $231.00 to $256.00 in a research report on Monday, July 7th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the company an "overweight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, RenaissanceRe has a consensus rating of "Hold" and an average target price of $288.56.

RenaissanceRe Price Performance

RenaissanceRe stock traded down $1.17 during mid-day trading on Wednesday, hitting $237.27. 279,828 shares of the company were exchanged, compared to its average volume of 446,468. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The business's 50 day simple moving average is $244.00 and its two-hundred day simple moving average is $242.26. The company has a market capitalization of $11.54 billion, a P/E ratio of 7.57, a PEG ratio of 2.86 and a beta of 0.30. RenaissanceRe has a 12-month low of $210.51 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.18 EPS. Analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Insider Transactions at RenaissanceRe

In other RenaissanceRe 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 transaction, the chief accounting officer owned 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its stake in shares of RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock worth $717,278,000 after acquiring an additional 233,708 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of RenaissanceRe by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock worth $599,049,000 after acquiring an additional 676,125 shares in the last quarter. Boston Partners lifted its stake in shares of RenaissanceRe by 4.6% in the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock worth $505,509,000 after acquiring an additional 92,825 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of RenaissanceRe by 5.7% in the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock worth $323,003,000 after acquiring an additional 69,884 shares in the last quarter. Finally, Cooke & Bieler LP lifted its stake in shares of RenaissanceRe by 18.0% in the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock worth $299,458,000 after acquiring an additional 190,139 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

About RenaissanceRe

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.