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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $333.8667.

RNR has been the subject of a number of research reports. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Mizuho lifted their price objective on RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. TD Cowen boosted their price objective on RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Wolfe Research set a $315.00 target price on RenaissanceRe in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their target price on RenaissanceRe from $329.00 to $360.00 and gave the stock a “neutral” rating in a research note on Monday.

Hedge Funds Weigh In On RenaissanceRe

Large investors have recently added to or reduced their stakes in the stock. Boston Partners boosted its stake in shares of RenaissanceRe by 9.9% in the fourth quarter. Boston Partners now owns 1,423,483 shares of the insurance provider’s stock worth $400,150,000 after acquiring an additional 128,245 shares during the last quarter. Lightrock Netherlands B.V. grew its holdings in shares of RenaissanceRe by 15.8% during the first quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock worth $350,263,000 after buying an additional 160,915 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of RenaissanceRe by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider’s stock valued at $322,603,000 after buying an additional 52,371 shares during the last quarter. Bank of America Corp DE raised its position in shares of RenaissanceRe by 17.6% in the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after buying an additional 120,063 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new position in RenaissanceRe during the fourth quarter worth about $178,519,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

RNR opened at $320.86 on Friday. RenaissanceRe has a 12-month low of $231.17 and a 12-month high of $329.57. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $13.68 billion, a PE ratio of 5.35, a P/E/G ratio of 1.25 and a beta of 0.17. The firm has a 50 day moving average of $303.24 and a two-hundred day moving average of $297.63.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The business had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. On average, analysts anticipate that RenaissanceRe will post 40.57 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. 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.