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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned an average recommendation of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $323.6429.

RNR has been the topic of several research analyst reports. Barclays cut their target price on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Evercore set a $309.00 target price on RenaissanceRe in a research report on Thursday, April 9th. Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and upped their target price for the company from $335.00 to $345.00 in a research report on Wednesday, June 10th. Cantor Fitzgerald upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their target price for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Finally, UBS Group upped their target price on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, May 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RNR. Kingdom Financial Group LLC. purchased a new stake in shares of RenaissanceRe in the fourth quarter worth approximately $36,000. Quarry LP increased its position in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. increased its position in shares of RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 37 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.1%

Shares of RenaissanceRe stock opened at $299.41 on Monday. RenaissanceRe has a one year low of $231.17 and a one year high of $318.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50-day moving average is $298.76 and its 200 day moving average is $290.90. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 1.13 and a beta of 0.19.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The company had revenue of $2.19 billion for the quarter. Equities research analysts anticipate that RenaissanceRe will post 40.05 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio is 2.73%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.