JMP Securities Reiterates “Market Perform” Rating for RenaissanceRe (NYSE:RNR)

RenaissanceRe (NYSE:RNR)‘s stock had its “market perform” rating restated by stock analysts at JMP Securities in a report released on Thursday,Benzinga reports.

Several other analysts also recently issued reports on RNR. Keefe, Bruyette & Woods dropped their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Bank of America lowered their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $283.80.

RenaissanceRe Trading Up 3.1 %

NYSE:RNR opened at $235.02 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe has a 1-year low of $208.98 and a 1-year high of $300.00. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 2.09 and a beta of 0.29. The business’s 50-day moving average price is $237.66 and its two-hundred day moving average price is $252.34.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. On average, equities analysts expect that RenaissanceRe will post 26.04 earnings per share for the current year.

Institutional Trading of RenaissanceRe

Several large investors have recently made changes to their positions in the company. Tsfg LLC bought a new position in shares of RenaissanceRe in the first quarter valued at $40,000. Waverton Investment Management Ltd boosted its stake in RenaissanceRe by 6.9% during the 1st quarter. Waverton Investment Management Ltd now owns 42,926 shares of the insurance provider’s stock valued at $10,300,000 after purchasing an additional 2,761 shares during the last quarter. Wealthquest Corp bought a new stake in RenaissanceRe during the 1st quarter worth approximately $622,000. Moran Wealth Management LLC purchased a new stake in shares of RenaissanceRe in the first quarter worth approximately $2,313,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of RenaissanceRe in the first quarter valued at approximately $348,000. 99.97% of the stock is currently 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.