RenaissanceRe (NYSE:RNR) Rating Lowered to Hold at StockNews.com

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

RNR has been the topic of a number of other reports. Citigroup upped their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Bank of America upped their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $267.00 to $274.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upped their price objective on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $289.00.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $275.09 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50 day simple moving average is $262.12 and its two-hundred day simple moving average is $237.51. The stock has a market capitalization of $14.35 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.38. RenaissanceRe has a one year low of $188.24 and a one year high of $284.36.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating the consensus estimate of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. Analysts forecast that RenaissanceRe will post 39.96 EPS for the current year.

Insider Transactions at RenaissanceRe

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RNR. ORG Wealth Partners LLC acquired a new stake in shares of RenaissanceRe in the 3rd quarter valued at about $30,000. Riverview Trust Co acquired a new stake in shares of RenaissanceRe in the 1st quarter valued at about $26,000. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe in the 2nd quarter valued at about $27,000. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 95 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of RenaissanceRe in the 2nd quarter valued at about $31,000. 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.