RenaissanceRe (NYSE:RNR) Price Target Lowered to $294.00 at Keefe, Bruyette & Woods

RenaissanceRe (NYSE:RNR) had its target price reduced by Keefe, Bruyette & Woods from $318.00 to $294.00 in a research note issued to investors on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. Bank of America boosted their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Wells Fargo & Company dropped their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $281.27.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $232.98 on Tuesday. RenaissanceRe has a twelve month low of $208.98 and a twelve month high of $300.00. The stock has a market capitalization of $12.10 billion, a P/E ratio of 6.65, a PEG ratio of 1.65 and a beta of 0.43. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $257.92 and its 200 day moving average price is $257.66.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, research analysts anticipate that RenaissanceRe will post 33.43 earnings per share for the current year.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank grew its holdings in shares of RenaissanceRe by 1.5% during the fourth quarter. Amalgamated Bank now owns 25,176 shares of the insurance provider’s stock valued at $6,264,000 after purchasing an additional 378 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of RenaissanceRe during the fourth quarter valued at approximately $1,568,000. Handelsbanken Fonder AB grew its holdings in shares of RenaissanceRe by 6.5% during the fourth quarter. Handelsbanken Fonder AB now owns 13,100 shares of the insurance provider’s stock valued at $3,259,000 after purchasing an additional 800 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of RenaissanceRe by 11.7% during the fourth quarter. Private Advisor Group LLC now owns 2,851 shares of the insurance provider’s stock valued at $709,000 after purchasing an additional 298 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

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.