RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Rating of “Hold” from Brokerages

RenaissanceRe Holdings Ltd. (NYSE:RNR) has been assigned an average rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $247.89.

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

Insider Buying and Selling

In related news, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now directly owns 5,363 shares in the company, valued at $1,220,565.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the transaction, the director now directly owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the transaction, the chief financial officer now owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The disclosure for this sale can be found here. In the last three months, insiders sold 5,130 shares of company stock valued at $1,167,479. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

RenaissanceRe Trading Down 0.9 %

Shares of RNR opened at $215.78 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 4.21, a PEG ratio of 2.48 and a beta of 0.30. The stock has a fifty day moving average price of $228.54 and a two-hundred day moving average price of $214.93. RenaissanceRe has a 52-week low of $174.22 and a 52-week high of $239.42.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business posted $7.33 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts predict that RenaissanceRe will post 34.39 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. 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.