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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $247.89.

A number of brokerages recently weighed in on RNR. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen initiated coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating for the company. UBS Group upped their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. BMO Capital Markets lifted their price target on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Evercore ISI boosted their price objective on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th.

Insider Buying and Selling

In other news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the transaction, the chief financial officer now owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP David E. Marra sold 750 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the transaction, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the sale, the chief financial officer now owns 70,424 shares in the company, valued at $16,518,653.44. The disclosure for this sale can be found here. Insiders sold a total of 4,130 shares of company stock worth $958,429 in the last three months. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in RenaissanceRe in the first quarter worth about $26,000. Financial Management Professionals Inc. lifted its stake in shares of RenaissanceRe by 4,833.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 148 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 145 shares during the period. Rise Advisors LLC acquired a new stake in shares of RenaissanceRe in the 1st quarter worth approximately $31,000. Quarry LP bought a new position in shares of RenaissanceRe in the first quarter valued at approximately $32,000. Finally, Mather Group LLC. acquired a new position in shares of RenaissanceRe during the first quarter valued at approximately $34,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $224.89 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. RenaissanceRe has a 1-year low of $174.22 and a 1-year high of $239.42. The firm has a market capitalization of $11.85 billion, a P/E ratio of 4.39, a P/E/G ratio of 2.87 and a beta of 0.30. The business’s 50-day simple moving average is $227.55 and its 200-day simple moving average is $215.58.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company posted $7.33 earnings per share. RenaissanceRe’s revenue was up 17.9% compared to the same quarter last year. Equities analysts predict that RenaissanceRe will post 34.41 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s payout ratio is currently 3.05%.

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.