Jefferies Financial Group Reiterates “Hold” Rating for RenaissanceRe (NYSE:RNR)

RenaissanceRe (NYSE:RNR)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Financial Group in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $282.00 price target on the insurance provider’s stock, down from their prior price target of $304.00. Jefferies Financial Group’s price target suggests a potential upside of 13.54% from the company’s previous close.

Several other equities analysts have also issued reports on RNR. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Barclays initiated coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $290.09.

RenaissanceRe Trading Up 2.6 %

Shares of RNR stock opened at $248.37 on Wednesday. RenaissanceRe has a 1-year low of $190.89 and a 1-year high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 3.58, a PEG ratio of 1.31 and a beta of 0.41. The stock has a 50-day moving average of $271.08 and a 200-day moving average of $250.88.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.33 EPS. On average, equities research analysts forecast that RenaissanceRe will post 41.94 earnings per share for the current year.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in RenaissanceRe by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider’s stock valued at $2,516,000 after acquiring an additional 232 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of RenaissanceRe in the 3rd quarter worth $405,000. World Investment Advisors LLC bought a new stake in shares of RenaissanceRe in the 3rd quarter worth $16,176,000. Rehmann Capital Advisory Group bought a new position in shares of RenaissanceRe during the third quarter valued at about $256,000. Finally, Coldstream Capital Management Inc. purchased a new position in RenaissanceRe during the third quarter worth about $257,000. Institutional investors own 99.97% of the company’s stock.

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.