Janney Montgomery Scott LLC Has $1.32 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Janney Montgomery Scott LLC raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.4% in the fourth quarter, Holdings Channel reports. The fund owned 5,290 shares of the insurance provider’s stock after acquiring an additional 222 shares during the period. Janney Montgomery Scott LLC’s holdings in RenaissanceRe were worth $1,316,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RNR. Impax Asset Management Group plc boosted its stake in RenaissanceRe by 32.4% in the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after purchasing an additional 415,366 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares in the last quarter. Nepsis Inc. boosted its position in shares of RenaissanceRe by 6.6% during the third quarter. Nepsis Inc. now owns 97,068 shares of the insurance provider’s stock worth $26,441,000 after buying an additional 5,996 shares during the period. Assetmark Inc. grew its holdings in shares of RenaissanceRe by 115.3% during the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after buying an additional 43,384 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after buying an additional 8,844 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RNR. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Bank of America increased their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $281.27.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $232.98 on Wednesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43. The stock’s fifty day moving average price is $257.92 and its two-hundred day moving average price is $257.66. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 6.65, a P/E/G ratio of 1.65 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last posted 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%. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 33.43 EPS for the current year.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

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.