RenaissanceRe (NYSE:RNR) Price Target Lowered to $310.00 at Keefe, Bruyette & Woods

RenaissanceRe (NYSE:RNR) had its target price cut by analysts at Keefe, Bruyette & Woods from $316.00 to $310.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 17.20% from the company’s current price.

RNR has been the subject of several other reports. Citigroup boosted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group increased their price target on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays initiated coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus price target of $293.00.

RenaissanceRe Stock Performance

Shares of NYSE:RNR traded down $0.26 on Tuesday, reaching $264.50. 149,299 shares of the company’s stock were exchanged, compared to its average volume of 350,851. RenaissanceRe has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The business’s 50-day moving average is $267.82 and its two-hundred day moving average is $242.31. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 3.82, a PEG ratio of 1.75 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. RenaissanceRe’s revenue was up 52.1% on a year-over-year basis. During the same quarter last year, the company posted $8.33 earnings per share. As a group, equities research analysts forecast that RenaissanceRe will post 40.75 EPS for the current year.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares in the company, valued at approximately $22,338,836. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of RenaissanceRe

Several large investors have recently added to or reduced their stakes in RNR. Blue Trust Inc. purchased a new position in RenaissanceRe during the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of RenaissanceRe during the third quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in RenaissanceRe during the second quarter valued at approximately $31,000. UMB Bank n.a. increased its stake in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after buying an additional 95 shares during the period. Finally, Advisors Asset Management Inc. purchased a new stake in RenaissanceRe in the 3rd quarter worth approximately $45,000. 99.97% of the stock is owned by institutional investors and hedge funds.

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.