RenaissanceRe (NYSE:RNR) Given "Hold" Rating at Jefferies Financial Group

RenaissanceRe (NYSE:RNR - Get Free Report)'s stock had its "hold" rating restated by Jefferies Financial Group in a note issued to investors on Wednesday, MarketBeat reports. They currently have a $282.00 price target on the insurance provider's stock, down from their previous price target of $304.00. Jefferies Financial Group's price objective would suggest a potential upside of 16.54% from the company's current price.

Several other brokerages have also recently issued reports on RNR. Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $274.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. StockNews.com cut RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Citigroup lifted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lifted their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $290.09.

RenaissanceRe Stock Down 5.2 %

RNR traded down $13.22 during trading on Wednesday, reaching $241.97. The stock had a trading volume of 813,037 shares, compared to its average volume of 365,213. The stock's 50 day moving average is $272.33 and its two-hundred day moving average is $250.96. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 3.49, a P/E/G ratio of 1.31 and a beta of 0.41. RenaissanceRe has a one year low of $190.89 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.35 billion. During the same period last year, the company earned $8.33 earnings per share. The company's revenue was up 52.1% on a year-over-year basis. As a group, analysts expect that RenaissanceRe will post 41.94 earnings per share for the current year.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 82,044 shares of the company's stock, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Impax Asset Management Group plc increased its position in RenaissanceRe by 32.4% during the 3rd 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. Cooke & Bieler LP increased its position in RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock valued at $229,679,000 after buying an additional 86,562 shares in the last quarter. Geode Capital Management LLC increased its position in RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock valued at $250,892,000 after buying an additional 25,773 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 buying an additional 109,851 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider's stock valued at $56,987,000 after purchasing an additional 7,718 shares during the period. 99.97% of the stock is owned by institutional investors.

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.