RenaissanceRe (NYSE:RNR) Downgraded by StockNews.com to Hold

RenaissanceRe (NYSE:RNR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other research analysts have also commented on RNR. UBS Group reduced their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Barclays initiated coverage on RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price on the stock. Citigroup lifted their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Evercore ISI upped their price objective on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Down 1.4 %

RenaissanceRe stock opened at $278.75 on Tuesday. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 1.85 and a beta of 0.38. The firm has a 50 day simple moving average of $260.37 and a 200 day simple moving average of $236.75. RenaissanceRe has a 1-year low of $188.24 and a 1-year high of $284.36. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.93 billion. On average, analysts predict that RenaissanceRe will post 39.96 earnings per share for the current year.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares of the company’s stock, valued at $22,890,276. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,500 shares of company stock worth $1,109,400. Company insiders own 1.30% of the company’s stock.

Institutional Trading of RenaissanceRe

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co bought a new position in shares of RenaissanceRe during the first quarter valued at approximately $26,000. Blue Trust Inc. bought a new stake in RenaissanceRe in the second quarter worth $27,000. ORG Wealth Partners LLC purchased a new stake in shares of RenaissanceRe in the third quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of RenaissanceRe during the second quarter valued at $31,000. Finally, Mather Group LLC. bought a new position in shares of RenaissanceRe during the first quarter valued at $34,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.