RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Average Rating of “Hold” by Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average rating of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $321.9286.

A number of analysts have weighed in on RNR shares. Mizuho increased their target price on RenaissanceRe from $313.00 to $318.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Barclays reduced their target price on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Evercore set a $309.00 target price on RenaissanceRe in a research note on Thursday, April 9th. Morgan Stanley lowered RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research note on Thursday, February 26th. Finally, Wells Fargo & Company increased their target price on RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research note on Thursday.

RenaissanceRe Stock Down 2.7%

Shares of RNR opened at $298.83 on Friday. The company has a market cap of $12.74 billion, a PE ratio of 4.98, a P/E/G ratio of 0.82 and a beta of 0.23. The business has a fifty day moving average of $301.47 and a 200 day moving average of $282.04. RenaissanceRe has a 52-week low of $231.17 and a 52-week high of $318.20. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.07 by $2.68. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.84 billion. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.RenaissanceRe’s revenue was down 36.8% on a year-over-year basis. During the same period last year, the company earned ($1.49) earnings per share. On average, sell-side analysts expect that RenaissanceRe will post 38.28 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $0.41 dividend. The ex-dividend date was Friday, March 13th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s payout ratio is 2.73%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the sale, the executive vice president owned 73,023 shares in the company, valued at $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of RenaissanceRe

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd increased its stake in shares of RenaissanceRe by 812.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock valued at $4,337,000 after buying an additional 15,207 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of RenaissanceRe during the third quarter valued at $1,564,000. Nordea Investment Management AB increased its stake in shares of RenaissanceRe by 207.2% during the third quarter. Nordea Investment Management AB now owns 41,871 shares of the insurance provider’s stock valued at $10,539,000 after buying an additional 28,241 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of RenaissanceRe by 16.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after buying an additional 16,448 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after buying an additional 45,936 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.