Barclays Has Lowered Expectations for RenaissanceRe (NYSE:RNR) Stock Price

RenaissanceRe (NYSE:RNR) had its price target decreased by analysts at Barclays from $234.00 to $231.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s target price suggests a potential downside of 2.91% from the stock’s current price.

A number of other equities analysts have also recently commented on RNR. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Morgan Stanley decreased their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price target on the stock in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $280.80.

RenaissanceRe Price Performance

Shares of RNR traded up $5.87 during midday trading on Friday, reaching $237.92. The stock had a trading volume of 383,323 shares, compared to its average volume of 416,979. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The company’s 50-day moving average is $236.83 and its 200 day moving average is $254.62.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results 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 net margin of 15.99% and a return on equity of 23.41%. On average, equities analysts predict that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated 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 owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of RenaissanceRe

Several large investors have recently bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. raised its holdings in RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. lifted its position in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock valued at $1,156,000 after buying an additional 52 shares during the period. AMG National Trust Bank boosted its holdings in shares of RenaissanceRe by 1.3% during the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock valued at $1,166,000 after buying an additional 59 shares in the last quarter. Finally, Principal Securities Inc. grew its position in shares of RenaissanceRe by 11.9% in the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock worth $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is owned by institutional investors.

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.