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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received a consensus rating of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $272.60.

RNR has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley cut their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays started coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. UBS Group dropped their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Citigroup boosted their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th.

RenaissanceRe Price Performance

RNR opened at $279.58 on Friday. RenaissanceRe has a twelve month low of $188.24 and a twelve month high of $279.76. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 1.47 and a beta of 0.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $250.67 and a 200 day simple moving average of $233.57.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.88 by $1.53. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Equities research analysts expect that RenaissanceRe will post 39.01 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Insider Buying and Selling

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,500 shares of company stock valued at $1,339,400 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe in the 1st quarter valued at $46,000. Royal London Asset Management Ltd. lifted its holdings in shares of RenaissanceRe by 38.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after buying an additional 6,874 shares during the last quarter. American International Group Inc. grew its position in RenaissanceRe by 1,829.6% in the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after acquiring an additional 1,321,325 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in RenaissanceRe in the second quarter worth $2,887,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of RenaissanceRe by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after acquiring an additional 3,962 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

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.