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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $249.00.

RNR has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Evercore ISI raised their price target on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. TD Cowen assumed coverage on RenaissanceRe in a research note on Wednesday, January 10th. They set a “market perform” rating for the company. Finally, UBS Group lifted their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th.

RenaissanceRe Trading Up 0.9 %

NYSE RNR opened at $225.01 on Wednesday. RenaissanceRe has a 12 month low of $174.22 and a 12 month high of $239.42. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s fifty day moving average price is $226.33 and its 200 day moving average price is $216.37.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The business’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.16 earnings per share. On average, sell-side analysts expect that RenaissanceRe will post 35.4 earnings per share for the current fiscal year.

Insider Buying and Selling at RenaissanceRe

In other news, Director Carol P. Sanders sold 880 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RenaissanceRe

Institutional investors and hedge funds have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in RenaissanceRe in the first quarter valued at $26,000. Rise Advisors LLC acquired a new stake in RenaissanceRe in the 1st quarter valued at about $31,000. Mather Group LLC. purchased a new position in RenaissanceRe during the 1st quarter valued at about $34,000. GAMMA Investing LLC acquired a new position in RenaissanceRe during the fourth quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

About RenaissanceRe

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.