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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $290.09.

A number of research firms have weighed in on RNR. Barclays began coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target for the company. Evercore ISI increased their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Citigroup lifted their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Bank of America upped their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of RenaissanceRe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 32.4% in the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after buying an additional 415,366 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after purchasing an additional 109,851 shares in the last quarter. Cooke & Bieler LP increased its position in shares of RenaissanceRe by 9.2% during the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock worth $229,679,000 after purchasing an additional 86,562 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of RenaissanceRe during the 3rd quarter valued at $18,969,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of RenaissanceRe in the 3rd quarter worth $17,086,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.2 %

Shares of RNR stock opened at $249.77 on Thursday. The stock has a market capitalization of $12.97 billion, a P/E ratio of 3.60, a P/E/G ratio of 1.31 and a beta of 0.41. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $270.56 and its 200 day moving average is $251.42. RenaissanceRe has a 12-month low of $191.61 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm posted $8.33 earnings per share. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. Research analysts expect that RenaissanceRe will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.62%. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

RenaissanceRe Company Profile

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.