Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $140.16.

Several equities analysts have issued reports on RNR shares. Zacks Investment Research raised shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Citigroup Inc. increased their price objective on shares of RenaissanceRe Holdings from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, April 7th. Wells Fargo & Company reaffirmed a “hold” rating on shares of RenaissanceRe Holdings in a report on Sunday, April 16th. BidaskClub downgraded shares of RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised shares of RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.

Shares of RenaissanceRe Holdings (NYSE RNR) opened at 145.01 on Monday. The stock has a market cap of $5.89 billion, a PE ratio of 13.51 and a beta of 0.64. RenaissanceRe Holdings has a 52 week low of $115.13 and a 52 week high of $150.74. The firm has a 50-day moving average of $141.18 and a 200 day moving average of $141.74.

RenaissanceRe Holdings declared that its Board of Directors has approved a share repurchase program on Wednesday, May 17th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 99% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, June 13th. RenaissanceRe Holdings’s dividend payout ratio (DPR) is presently 11.94%.

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In other RenaissanceRe Holdings news, SVP Stephen Howard Weinstein sold 14,000 shares of RenaissanceRe Holdings stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $143.19, for a total transaction of $2,004,660.00. Following the completion of the sale, the senior vice president now directly owns 75,162 shares in the company, valued at $10,762,446.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Odonnell sold 7,000 shares of RenaissanceRe Holdings stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $141.64, for a total transaction of $991,480.00. Following the sale, the chief executive officer now owns 222,854 shares of the company’s stock, valued at $31,565,040.56. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its stake in shares of RenaissanceRe Holdings by 0.4% in the first quarter. World Asset Management Inc now owns 2,906 shares of the insurance provider’s stock worth $420,000 after buying an additional 13 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of RenaissanceRe Holdings by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,019 shares of the insurance provider’s stock worth $294,000 after buying an additional 19 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of RenaissanceRe Holdings by 1.0% in the first quarter. Stifel Financial Corp now owns 2,255 shares of the insurance provider’s stock worth $324,000 after buying an additional 22 shares in the last quarter. Moon Capital Management LLC boosted its stake in shares of RenaissanceRe Holdings by 0.3% in the second quarter. Moon Capital Management LLC now owns 17,786 shares of the insurance provider’s stock worth $2,473,000 after buying an additional 55 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of RenaissanceRe Holdings by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 826 shares of the insurance provider’s stock worth $114,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

RenaissanceRe Holdings Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

Analyst Recommendations for RenaissanceRe Holdings (NYSE:RNR)

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