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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $286.36.

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Finally, Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th.

RenaissanceRe Stock Down 1.3 %

RNR stock opened at $250.01 on Monday. The business’s fifty day moving average price is $263.78 and its two-hundred day moving average price is $254.14. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 3.60, a PEG ratio of 1.31 and a beta of 0.44. RenaissanceRe has a fifty-two week low of $199.73 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $8.33 EPS. The business’s revenue was up 52.1% on a year-over-year basis. On average, equities analysts anticipate that RenaissanceRe will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Hedge Funds Weigh In On RenaissanceRe

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in RenaissanceRe by 3.4% during the 2nd quarter. Victory Capital Management Inc. now owns 22,187 shares of the insurance provider’s stock worth $4,959,000 after purchasing an additional 735 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of RenaissanceRe by 88.1% in the second quarter. Acadian Asset Management LLC now owns 2,090 shares of the insurance provider’s stock worth $465,000 after acquiring an additional 979 shares during the period. American Century Companies Inc. boosted its holdings in RenaissanceRe by 19.2% in the second quarter. American Century Companies Inc. now owns 50,291 shares of the insurance provider’s stock valued at $11,241,000 after acquiring an additional 8,083 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in RenaissanceRe by 32.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,528 shares of the insurance provider’s stock valued at $2,800,000 after purchasing an additional 3,074 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in RenaissanceRe by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 120,129 shares of the insurance provider’s stock worth $26,850,000 after purchasing an additional 1,606 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

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.