RenaissanceRe (NYSE:RNR) Given New $284.00 Price Target at JPMorgan Chase & Co.

RenaissanceRe (NYSE:RNR - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $280.00 to $284.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider's stock.

Several other brokerages have also recently weighed in on RNR. Jefferies Financial Group reaffirmed a "hold" rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Wells Fargo & Company increased their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Evercore ISI raised their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com downgraded RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $290.45.

RenaissanceRe Trading Up 1.6 %

NYSE:RNR traded up $4.00 during trading hours on Friday, reaching $252.83. 279,092 shares of the stock were exchanged, compared to its average volume of 361,596. RenaissanceRe has a twelve month low of $197.49 and a twelve month high of $300.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $265.23 and a two-hundred day moving average of $252.86. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 3.64, a PEG ratio of 1.31 and a beta of 0.41.

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

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is 2.25%.

Hedge Funds Weigh In On RenaissanceRe

Several hedge funds and other institutional investors have recently bought and sold shares of RNR. Impax Asset Management Group plc increased its position in shares of RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock valued at $461,679,000 after buying an additional 415,366 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock valued at $139,579,000 after acquiring an additional 109,851 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in RenaissanceRe during the third quarter worth about $18,969,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of RenaissanceRe in the third quarter valued at about $17,086,000. Finally, World Investment Advisors LLC acquired a new stake in RenaissanceRe during the 3rd quarter valued at $16,176,000. 99.97% of the stock is 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.