RenaissanceRe (NYSE:RNR) Downgraded by Barclays to "Underweight"

RenaissanceRe (NYSE:RNR - Get Free Report) was downgraded by equities research analysts at Barclays from an "equal weight" rating to an "underweight" rating in a research note issued to investors on Monday, MarketBeat reports. They presently have a $234.00 target price on the insurance provider's stock, down from their prior target price of $284.00. Barclays's price objective points to a potential downside of 5.94% from the stock's current price.

Other research analysts have also issued research reports about the stock. Evercore ISI boosted their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research note on Thursday, November 7th. Bank of America upped their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their price target on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group restated a "hold" rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $285.64.

RenaissanceRe Stock Down 1.6 %

RenaissanceRe stock traded down $4.05 during mid-day trading on Monday, reaching $248.78. 470,676 shares of the company were exchanged, compared to its average volume of 397,925. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $12.92 billion, a P/E ratio of 3.58, a PEG ratio of 1.31 and a beta of 0.44. The business has a fifty day moving average of $264.82 and a 200 day moving average of $253.41. RenaissanceRe has a 12-month low of $197.49 and a 12-month high of $300.00.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its position in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in RenaissanceRe in the third quarter valued at approximately $45,000. V Square Quantitative Management LLC boosted its position in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider's stock worth $49,000 after purchasing an additional 41 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of RenaissanceRe by 19.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider's stock valued at $63,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors 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.