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

RenaissanceRe (NYSE:RNR) had its target price dropped by Keefe, Bruyette & Woods from $318.00 to $294.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 26.51% from the stock’s current price.

Several other research firms also recently weighed in on RNR. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Finally, JMP Securities restated 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 given a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average target price of $281.27.

RenaissanceRe Trading Down 0.1 %

Shares of RNR stock opened at $232.40 on Tuesday. RenaissanceRe has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a 50-day simple moving average of $258.91 and a two-hundred day simple moving average of $257.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.42. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 1.65 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that RenaissanceRe will post 33.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of RenaissanceRe

Hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new position in shares of RenaissanceRe during the third quarter worth approximately $3,684,000. 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 worth $22,003,000 after purchasing an additional 8,844 shares during the period. Geode Capital Management LLC lifted its stake in RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Citigroup Inc. boosted its position in RenaissanceRe by 367.4% during the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after buying an additional 23,956 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of RenaissanceRe by 47.8% during the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after buying an additional 3,954 shares during the last quarter. 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.