RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Recommendation of “Hold” from Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR) has been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One research 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 twelve-month price target among brokers that have updated their coverage on the stock in the last year is $322.9286.

Several equities analysts recently issued reports on the company. UBS Group upped their target price on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Wells Fargo & Company upped their target price on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Mizuho set a $325.00 target price on RenaissanceRe in a research report on Monday, May 4th. Evercore set a $309.00 price target on shares of RenaissanceRe in a report on Thursday, April 9th. Finally, Morgan Stanley lowered shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price target on the stock. in a report on Thursday, February 26th.

Institutional Investors Weigh In On RenaissanceRe

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Kingdom Financial Group LLC. purchased a new stake in RenaissanceRe in the fourth quarter valued at $36,000. Mcguire Capital Advisors Inc. purchased a new stake in RenaissanceRe in the fourth quarter valued at $38,000. Finally, SBI Securities Co. Ltd. boosted its holdings in RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Price Performance

NYSE RNR opened at $289.64 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average price is $300.99 and its 200 day moving average price is $287.67. RenaissanceRe has a 1 year low of $231.17 and a 1 year high of $318.20. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 4.83, a PEG ratio of 0.77 and a beta of 0.22.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion for the quarter. As a group, equities research analysts forecast that RenaissanceRe will post 40.02 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio is presently 2.73%.

About RenaissanceRe

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.