RenaissanceRe Holdings Given Consensus Rating of “Hold” by Brokerages (NYSE:RNR)
Shares of RenaissanceRe Holdings (NYSE:RNR) have earned an average rating of “Hold” from the eleven brokerages that are covering the stock, American Banking News reports. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $101.67.
A number of analysts have recently weighed in on RNR shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of RenaissanceRe Holdings in a research note on Monday, August 4th. They now have a $100.00 price target on the stock, down previously from $102.00. Separately, analysts at Morgan Stanley downgraded shares of RenaissanceRe Holdings from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 1st. They now have a $105.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of RenaissanceRe Holdings in a research note on Thursday, July 31st. They now have a $107.00 price target on the stock, down previously from $110.00.
RenaissanceRe Holdings (NYSE:RNR) opened at 99.48 on Thursday. RenaissanceRe Holdings has a 1-year low of $83.19 and a 1-year high of $108.99. The stock’s 50-day moving average is $104.8 and its 200-day moving average is $99.99. The company has a market cap of $4.031 billion and a P/E ratio of 5.92.
RenaissanceRe Holdings (NYSE:RNR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $2.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.81 by $0.53. The company had revenue of $331.20 million for the quarter, compared to the consensus estimate of $329.60 million. During the same quarter last year, the company posted $2.17 earnings per share. RenaissanceRe Holdings’s revenue was up 32.4% compared to the same quarter last year. Analysts expect that RenaissanceRe Holdings will post $9.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, September 11th.
In other RenaissanceRe Holdings news, SVP Rider Fonner Todd sold 1,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.52, for a total transaction of $96,520.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
RenaissanceRe Holdings Ltd. (NYSE:RNR) is a global provider of reinsurance and insurance coverages and related services.
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