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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average recommendation of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $322.9286.

RNR has been the topic of several recent analyst reports. Citigroup increased their target price on RenaissanceRe from $333.00 to $335.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Cantor Fitzgerald upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $306.00 to $340.00 in a research note on Thursday, April 9th. Bank of America lowered their target price on RenaissanceRe to $426.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. UBS Group increased their target price on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a report on Friday, March 27th.

RenaissanceRe Stock Down 0.2%

RNR opened at $300.18 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. RenaissanceRe has a one year low of $231.17 and a one year high of $318.20. The business’s fifty day moving average is $301.47 and its two-hundred day moving average is $283.17. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 0.81 and a beta of 0.22.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.07 by $2.68. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business earned ($1.49) earnings per share. The business’s revenue was down 36.8% on a year-over-year basis. Analysts anticipate that RenaissanceRe will post 39.08 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.73%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after buying an additional 37 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 20.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 39 shares during the period. AMG National Trust Bank increased its position in RenaissanceRe by 0.7% in the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock valued at $1,469,000 after acquiring an additional 40 shares during the period. Beacon Pointe Advisors LLC increased its position in shares of RenaissanceRe by 2.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock valued at $522,000 after purchasing an additional 40 shares during the period. Finally, Signaturefd LLC increased its position in shares of RenaissanceRe by 8.9% during the 4th quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock valued at $142,000 after purchasing an additional 41 shares during the period. Institutional investors own 99.97% of the company’s stock.

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.