Zacks Research Boosts Earnings Estimates for RenaissanceRe

RenaissanceRe Holdings Ltd. (NYSE:RNR) – Equities research analysts at Zacks Research lifted their FY2024 EPS estimates for shares of RenaissanceRe in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst K. Dey now forecasts that the insurance provider will post earnings per share of $42.10 for the year, up from their prior estimate of $38.01. The consensus estimate for RenaissanceRe’s current full-year earnings is $42.01 per share. Zacks Research also issued estimates for RenaissanceRe’s Q4 2024 earnings at $7.28 EPS, Q3 2025 earnings at $4.34 EPS, Q4 2025 earnings at $8.57 EPS, Q2 2026 earnings at $12.95 EPS and Q3 2026 earnings at $4.78 EPS.

RenaissanceRe (NYSE:RNR) last issued 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. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the company posted $8.33 earnings per share.

RNR has been the topic of a number of other reports. Evercore ISI boosted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group boosted their price objective on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $293.00.

RenaissanceRe Stock Up 2.7 %

RNR opened at $271.90 on Friday. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.29 and a beta of 0.39. RenaissanceRe has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The company has a fifty day moving average of $268.86 and a two-hundred day moving average of $244.84.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of RenaissanceRe

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of RenaissanceRe by 741.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 979 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of RenaissanceRe by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,168 shares of the insurance provider’s stock worth $10,152,000 after purchasing an additional 1,850 shares during the period. Natixis bought a new position in shares of RenaissanceRe in the 1st quarter worth about $2,462,000. MQS Management LLC acquired a new position in shares of RenaissanceRe in the 1st quarter valued at about $248,000. Finally, EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe in the 1st quarter valued at about $46,000. 99.97% of the stock is owned by institutional investors.

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.