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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $286.36.

Several brokerages have recently weighed in on RNR. Bank of America upped their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods upped their target price on RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Finally, Evercore ISI raised their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th.

Institutional Trading of RenaissanceRe

A number of institutional investors and hedge funds have recently modified their holdings of the business. Impax Asset Management Group plc increased its position in shares of RenaissanceRe by 32.4% during 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 purchasing an additional 415,366 shares during the last quarter. Geode Capital Management LLC increased its holdings in RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RenaissanceRe by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after acquiring an additional 109,851 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of RenaissanceRe by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 120,129 shares of the insurance provider’s stock valued at $26,850,000 after acquiring an additional 1,606 shares during the period. Finally, Sei Investments Co. grew its position in shares of RenaissanceRe by 42.4% during the 2nd quarter. Sei Investments Co. now owns 111,369 shares of the insurance provider’s stock valued at $24,892,000 after acquiring an additional 33,154 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 1.3 %

Shares of RenaissanceRe stock opened at $250.01 on Monday. The stock’s 50-day moving average is $263.78 and its 200 day moving average is $254.14. RenaissanceRe has a one year low of $199.73 and a one year high of $300.00. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 3.60, a PEG ratio of 1.31 and a beta of 0.44. 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 announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $8.33 EPS. The company’s quarterly revenue was up 52.1% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

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