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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has been assigned an average rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $247.89.

Several brokerages have recently weighed in on RNR. JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group boosted their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. BMO Capital Markets raised their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Evercore ISI upped their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Finally, TD Cowen initiated coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating for the company.

RenaissanceRe Trading Up 0.9 %

Shares of RNR stock opened at $224.89 on Friday. The firm has a market capitalization of $11.85 billion, a P/E ratio of 4.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.30. RenaissanceRe has a 1 year low of $174.22 and a 1 year high of $239.42. The firm’s fifty day simple moving average is $227.55 and its 200 day simple moving average is $215.58. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm posted $7.33 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts predict that RenaissanceRe will post 34.41 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe’s dividend payout ratio is 3.05%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the transaction, the chief financial officer now owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total value of $586,400.00. Following the transaction, the chief financial officer now directly owns 70,424 shares in the company, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock valued at $958,429 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

Institutional investors have recently modified their holdings of the business. Riverview Trust Co bought a new position in RenaissanceRe in the first quarter valued at approximately $26,000. Financial Management Professionals Inc. raised its position in shares of RenaissanceRe by 4,833.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 148 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 145 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of RenaissanceRe in the 1st quarter valued at $31,000. Quarry LP bought a new position in shares of RenaissanceRe in the 1st quarter worth $32,000. Finally, Mather Group LLC. acquired a new stake in shares of RenaissanceRe during the first quarter worth $34,000. 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.