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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $286.2857.

Several equities research analysts recently weighed in on RNR shares. Mizuho began coverage on RenaissanceRe in a research note on Monday, December 15th. They set a “neutral” rating and a $281.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday, December 29th. Evercore ISI set a $244.00 target price on shares of RenaissanceRe and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Barclays set a $278.00 price target on shares of RenaissanceRe in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on shares of RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 price objective for the company.

Institutional Trading of RenaissanceRe

Large investors have recently bought and sold shares of the business. Allworth Financial LP increased its position in RenaissanceRe by 157.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 124 shares during the period. IFP Advisors Inc increased its holdings in shares of RenaissanceRe by 198.3% in the third quarter. IFP Advisors Inc now owns 349 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 232 shares during the period. Swiss Life Asset Management Ltd raised its stake in shares of RenaissanceRe by 73.6% during the third quarter. Swiss Life Asset Management Ltd now owns 2,203 shares of the insurance provider’s stock worth $559,000 after purchasing an additional 934 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares during the period. Finally, Prana Capital Management LP grew its position in RenaissanceRe by 608.9% in the 3rd quarter. Prana Capital Management LP now owns 29,971 shares of the insurance provider’s stock valued at $7,611,000 after buying an additional 25,743 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $272.44 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.50 and a beta of 0.26. The stock’s 50-day moving average is $266.64 and its two-hundred day moving average is $252.57. RenaissanceRe has a 1-year low of $219.00 and a 1-year high of $285.26.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $10.23 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts forecast that RenaissanceRe will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

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.