RenaissanceRe (NYSE:RNR) Given Market Perform Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of RenaissanceRe (NYSE:RNR) in a research note published on Thursday,Benzinga reports.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $283.00.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $237.89 on Thursday. 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 firm has a market cap of $12.36 billion, a P/E ratio of 6.79, a P/E/G ratio of 1.75 and a beta of 0.44. The stock’s fifty day moving average price is $260.64 and its 200-day moving average price is $257.15. RenaissanceRe has a 12 month low of $208.98 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results 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 23.51% and a net margin of 15.99%. On average, equities research analysts expect that RenaissanceRe will post 34.22 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe’s payout ratio is 4.45%.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors have recently modified their holdings of the business. Algert Global LLC acquired a new stake in RenaissanceRe in the second quarter valued at approximately $1,186,000. Rockefeller Capital Management L.P. purchased a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $3,684,000. Fisher Asset Management LLC lifted its position in shares of RenaissanceRe by 12.3% during 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 in the last quarter. Geode Capital Management LLC grew its stake in RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after acquiring an additional 25,773 shares during the period. Finally, Citigroup Inc. increased its holdings in RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after acquiring an additional 23,956 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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.