RenaissanceRe (NYSE:RNR) Receives "Market Perform" Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of RenaissanceRe (NYSE:RNR - Free Report) in a research note released on Thursday,Benzinga reports.

A number of other research analysts have also weighed in on RNR. StockNews.com lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. Jefferies Financial Group restated a "hold" rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, Evercore ISI upped their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. Two investment analysts have 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, RenaissanceRe currently has a consensus rating of "Hold" and a consensus target price of $283.45.

RenaissanceRe Price Performance

Shares of RNR stock traded down $5.87 during mid-day trading on Thursday, hitting $232.52. 923,480 shares of the stock were exchanged, compared to its average volume of 596,654. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe has a 52-week low of $208.98 and a 52-week high of $300.00. The firm has a fifty day moving average of $259.85 and a 200 day moving average of $257.20. The company has a market cap of $12.08 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.44.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating 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%. Research analysts anticipate that RenaissanceRe will post 34.22 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.67%. RenaissanceRe's payout ratio is 4.45%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company's stock.

Institutional Trading of RenaissanceRe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock worth $461,679,000 after purchasing an additional 415,366 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $18,969,000. Northwest & Ethical Investments L.P. purchased a new position in shares of RenaissanceRe in the 3rd quarter valued at $17,086,000. World Investment Advisors LLC purchased a new stake in RenaissanceRe in the third quarter valued at $16,176,000. Finally, Assetmark Inc. increased its position in shares of RenaissanceRe by 115.3% during the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider's stock worth $22,066,000 after purchasing an additional 43,384 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

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.