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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $140.40.

Several analysts recently commented on the company. Citigroup dropped their price target on RenaissanceRe from $161.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Zacks Investment Research cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Buckingham Research boosted their price target on RenaissanceRe from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co reiterated a “hold” rating and set a $130.00 price target on shares of RenaissanceRe in a research report on Wednesday, October 17th. Finally, Deutsche Bank upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, November 7th.

Shares of RenaissanceRe stock traded up $1.90 on Friday, reaching $123.85. The company’s stock had a trading volume of 419,900 shares, compared to its average volume of 292,192. The stock has a market capitalization of $4.86 billion, a PE ratio of -14.83, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. RenaissanceRe has a 52-week low of $116.50 and a 52-week high of $142.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.67 and a quick ratio of 1.67.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.42. RenaissanceRe had a return on equity of 10.52% and a net margin of 15.07%. The firm had revenue of $453.30 million during the quarter, compared to analysts’ expectations of $416.49 million. During the same period in the previous year, the business earned ($13.81) earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that RenaissanceRe will post 10.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, December 13th. RenaissanceRe’s payout ratio is -15.81%.

In related news, Director Henry Klehm III sold 810 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $128.00, for a total transaction of $103,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. BlueMountain Capital Management LLC grew its holdings in RenaissanceRe by 1,331.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 1,274 shares of the insurance provider’s stock valued at $153,000 after buying an additional 1,185 shares in the last quarter. Korea Investment CORP purchased a new stake in RenaissanceRe in the 2nd quarter valued at $168,000. Daiwa SB Investments Ltd. grew its holdings in RenaissanceRe by 43.6% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,450 shares of the insurance provider’s stock valued at $174,000 after buying an additional 440 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in RenaissanceRe in the 3rd quarter valued at $200,000. Finally, Guyasuta Investment Advisors Inc. purchased a new stake in RenaissanceRe in the 3rd quarter valued at $200,000. Institutional investors own 93.86% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

Read More: How much money do you need to begin day trading?

Analyst Recommendations for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply