RenaissanceRe (NYSE:RNR) Given “Market Perform” Rating at JMP Securities

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

Several other analysts have also recently weighed in on the stock. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Evercore ISI raised their target price on 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 increased their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $283.00.

RenaissanceRe Stock Up 0.4 %

RNR stock opened at $237.89 on Thursday. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.75 and a beta of 0.44. The firm has a 50-day moving average of $260.64 and a two-hundred day moving average of $257.15. RenaissanceRe has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data 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%. As a group, analysts forecast that RenaissanceRe will post 34.22 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 4.45%.

Insider Transactions at RenaissanceRe

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RNR. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe in the 3rd quarter valued at $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of RenaissanceRe during the third quarter worth about $45,000. Finally, V Square Quantitative Management LLC increased 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 valued at $49,000 after acquiring an additional 41 shares during the period. 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.