RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) – Equities researchers at DOWLING & PARTN issued their FY2028 earnings estimates for shares of RenaissanceRe in a research note issued on Friday, July 24th. DOWLING & PARTN analyst N. Iacoviello anticipates that the insurance provider will earn $43.00 per share for the year. The consensus estimate for RenaissanceRe’s current full-year earnings is $41.08 per share.
A number of other brokerages have also weighed in on RNR. Citigroup raised RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their target price for the company from $335.00 to $345.00 in a research report on Wednesday, June 10th. Bank of America increased their price target on RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Morgan Stanley raised their price target on RenaissanceRe from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Weiss Ratings upgraded RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of RenaissanceRe in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $335.80.
RenaissanceRe Stock Down 0.0%
Shares of NYSE:RNR opened at $328.94 on Tuesday. RenaissanceRe has a 52-week low of $231.17 and a 52-week high of $331.45. The stock has a market cap of $14.02 billion, a P/E ratio of 5.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.17. The business’s 50 day moving average is $305.71 and its 200 day moving average is $298.97. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.
RenaissanceRe (NYSE:RNR – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 EPS for the quarter, topping analysts’ consensus estimates of $11.72 by $1.20. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company posted $12.29 earnings per share.
Hedge Funds Weigh In On RenaissanceRe
Several institutional investors and hedge funds have recently added to or reduced their stakes in RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in RenaissanceRe by 39.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after purchasing an additional 2,737 shares in the last quarter. Millennium Management LLC bought a new stake in shares of RenaissanceRe in the 1st quarter valued at about $15,289,000. Jones Financial Companies Lllp grew its position in shares of RenaissanceRe by 900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after buying an additional 1,215 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after buying an additional 24,027 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of RenaissanceRe by 18.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.
RenaissanceRe Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given 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 (DPR) is presently 2.81%.
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.
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