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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has been given an average rating of “Hold” by the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $283.6667.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $303.00 target price on shares of RenaissanceRe in a report on Thursday, October 9th. Barclays set a $278.00 price target on shares of RenaissanceRe in a research report on Wednesday, October 8th. Wolfe Research began coverage on RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald upgraded RenaissanceRe to a “hold” rating in a research note on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th.

RenaissanceRe Stock Performance

RNR opened at $267.32 on Friday. The stock’s 50 day simple moving average is $252.28 and its 200-day simple moving average is $246.18. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. The stock has a market cap of $12.33 billion, a PE ratio of 7.43, a P/E/G ratio of 2.08 and a beta of 0.25. RenaissanceRe has a 1 year low of $219.00 and a 1 year high of $290.78.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.49 by $6.13. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.23 EPS. Sell-side analysts forecast that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.40 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s payout ratio is 4.45%.

Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. increased its position in shares of RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 99 shares during the period. IFP Advisors Inc increased its position in RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 72 shares in the last quarter. Financial Consulate Inc. bought a new position in RenaissanceRe in the 3rd quarter valued at approximately $29,000. Huntington National Bank boosted its position in RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after buying an additional 79 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

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.