RenaissanceRe (NYSE:RNR) Given New $329.00 Price Target at Mizuho

RenaissanceRe (NYSE:RNR) had its price target increased by Mizuho from $325.00 to $329.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a neutral rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on RNR. Evercore set a $309.00 price target on shares of RenaissanceRe in a report on Thursday, April 9th. Weiss Ratings raised RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. UBS Group boosted their target price on RenaissanceRe from $326.00 to $342.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upped their target price on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Wells Fargo & Company raised their price target on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $331.07.

RenaissanceRe Trading Down 3.5%

NYSE:RNR opened at $311.06 on Thursday. The company has a market cap of $13.26 billion, a P/E ratio of 5.19, a P/E/G ratio of 1.20 and a beta of 0.17. The stock’s fifty day moving average price is $300.54 and its two-hundred day moving average price is $295.57. RenaissanceRe has a 1 year low of $231.17 and a 1 year high of $329.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last issued 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 business had revenue of $2.19 billion during the quarter. As a group, analysts expect that RenaissanceRe will post 40.42 EPS for the current year.

RenaissanceRe Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Balefire LLC purchased a new position in shares of RenaissanceRe during the second quarter valued at approximately $237,000. Baron Wealth Management LLC purchased a new position in RenaissanceRe during the second quarter valued at $204,000. GAMMA Investing LLC boosted its holdings in RenaissanceRe by 2.4% in the second quarter. GAMMA Investing LLC now owns 2,551 shares of the insurance provider’s stock worth $808,000 after acquiring an additional 59 shares in the last quarter. Amundi boosted its holdings in RenaissanceRe by 244.7% in the first quarter. Amundi now owns 8,063 shares of the insurance provider’s stock worth $2,397,000 after acquiring an additional 5,724 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of RenaissanceRe by 11.0% in the first quarter. EverSource Wealth Advisors LLC now owns 765 shares of the insurance provider’s stock worth $227,000 after acquiring an additional 76 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

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.