Morgan Stanley Cuts RenaissanceRe (NYSE:RNR) Price Target to $245.00

RenaissanceRe (NYSE:RNR - Get Free Report) had its price objective decreased by Morgan Stanley from $265.00 to $245.00 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price target would suggest a potential upside of 4.14% from the stock's previous close.

Other analysts also recently issued research reports about the stock. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday. StockNews.com downgraded RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Jefferies Financial Group restated a "hold" rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Two investment analysts have 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $283.45.

RenaissanceRe Trading Down 1.3 %

Shares of NYSE:RNR opened at $235.26 on Friday. The company has a market capitalization of $12.22 billion, a P/E ratio of 6.71, a P/E/G ratio of 1.75 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The business's 50 day simple moving average is $260.64 and its 200 day simple moving average is $257.15. RenaissanceRe has a 1 year low of $208.98 and a 1 year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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, research analysts anticipate that RenaissanceRe will post 34.22 EPS for the current fiscal year.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the 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 transaction, the executive vice president now directly owns 79,392 shares of the company's stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On RenaissanceRe

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. grew its stake in shares of RenaissanceRe by 11.9% in the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after buying an additional 60 shares during the period. Autumn Glory Partners LLC boosted its holdings in RenaissanceRe by 100.0% in the fourth quarter. Autumn Glory Partners LLC now owns 2,000 shares of the insurance provider's stock worth $498,000 after acquiring an additional 1,000 shares in the last quarter. Lightrock Netherlands B.V. acquired a new stake in RenaissanceRe in the fourth quarter valued at approximately $4,607,000. Benedict Financial Advisors Inc. increased its holdings in shares of RenaissanceRe by 0.7% during the fourth quarter. Benedict Financial Advisors Inc. now owns 12,603 shares of the insurance provider's stock valued at $3,136,000 after acquiring an additional 86 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in shares of RenaissanceRe during the fourth quarter worth approximately $428,000. Institutional investors and hedge funds 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.

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