RenaissanceRe (NYSE:RNR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of RenaissanceRe (NYSE:RNR – Get Rating) in a research note released on Thursday. The brokerage issued a hold rating on the insurance provider’s stock.

A number of other research firms also recently weighed in on RNR. Wells Fargo & Company upped their price target on RenaissanceRe from $234.00 to $245.00 and gave the stock an overweight rating in a research note on Thursday, February 2nd. Morgan Stanley upped their price objective on RenaissanceRe from $150.00 to $195.00 and gave the company an equal weight rating in a research note on Tuesday, November 22nd. BMO Capital Markets began coverage on RenaissanceRe in a research report on Thursday, January 19th. They set a market perform rating and a $187.00 target price on the stock. Finally, TheStreet upgraded RenaissanceRe from a c+ rating to a b rating in a research report on Tuesday, January 31st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of Hold and an average target price of $197.25.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $188.99 on Thursday. The stock’s fifty day moving average price is $203.73 and its two-hundred day moving average price is $177.07. RenaissanceRe has a one year low of $124.18 and a one year high of $223.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $8.26 billion, a PE ratio of -7.37 and a beta of 0.42.

RenaissanceRe (NYSE:RNR – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The insurance provider reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $0.75. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. RenaissanceRe had a positive return on equity of 7.36% and a negative net margin of 20.97%. RenaissanceRe’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 EPS. As a group, research analysts expect that RenaissanceRe will post 23.52 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.37. RenaissanceRe’s dividend payout ratio (DPR) is -5.93%.

Insider Buying and Selling

In related news, Director Carol P. Sanders sold 1,515 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $211.32, for a total value of $320,149.80. Following the sale, the director now owns 5,629 shares in the company, valued at $1,189,520.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors and hedge funds have recently made changes to their positions in RNR. Fulton Bank N.A. increased its stake in RenaissanceRe by 43.7% in the third quarter. Fulton Bank N.A. now owns 2,133 shares of the insurance provider’s stock valued at $299,000 after acquiring an additional 649 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in RenaissanceRe in the second quarter valued at $538,000. Wedge Capital Management L L P NC increased its stake in RenaissanceRe by 15.9% in the third quarter. Wedge Capital Management L L P NC now owns 2,199 shares of the insurance provider’s stock valued at $309,000 after acquiring an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in RenaissanceRe by 2.8% in the third quarter. Crossmark Global Holdings Inc. now owns 3,800 shares of the insurance provider’s stock valued at $533,000 after acquiring an additional 105 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in RenaissanceRe in the second quarter valued at $364,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

RenaissanceRe Company Profile

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RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following business segments: Property, Casualty and Specialty, and Other. The Property segment focuses on catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance, and insurance.