RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $286.36 Consensus PT from Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $284.00.

Several equities analysts recently weighed in on RNR shares. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RNR. ORG Wealth Partners LLC purchased a new position in RenaissanceRe in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. grew its stake in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in RenaissanceRe in the 3rd quarter valued at approximately $45,000. V Square Quantitative Management LLC grew its stake in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after buying an additional 41 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in RenaissanceRe by 19.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after buying an additional 45 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $255.90 on Monday. RenaissanceRe has a fifty-two week low of $203.35 and a fifty-two week high of $300.00. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 3.69, a PEG ratio of 1.31 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s 50-day simple moving average is $263.16 and its 200 day simple moving average is $254.54.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $8.33 EPS. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year. As a group, research analysts anticipate that RenaissanceRe will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s payout ratio is currently 2.25%.

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.