RenaissanceRe Holdings Ltd. (NYSE:RNR) Short Interest Up 30.5% in December

RenaissanceRe Holdings Ltd. (NYSE:RNR) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 1,434,887 shares, a growth of 30.5% from the November 30th total of 1,099,875 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 355,777 shares, the short-interest ratio is presently 4.0 days. Based on an average trading volume of 355,777 shares, the short-interest ratio is presently 4.0 days. Currently, 3.2% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on RenaissanceRe in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. BMO Capital Markets reissued an “outperform” rating and issued a $303.00 target price on shares of RenaissanceRe in a report on Friday, December 5th. Zacks Research upgraded shares of RenaissanceRe from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Barclays set a $278.00 price target on shares of RenaissanceRe in a report on Wednesday, October 8th. Finally, UBS Group lifted their price objective on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $286.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RNR. Hantz Financial Services Inc. increased its stake 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 valued at $27,000 after buying 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 valued at $28,000 after purchasing an additional 72 shares during the period. Financial Consulate Inc. bought a new position in RenaissanceRe during the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its position in shares of RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of RenaissanceRe by 151.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 79 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 0.0%

RenaissanceRe stock traded up $0.05 during trading hours on Tuesday, hitting $283.89. The stock had a trading volume of 329,805 shares, compared to its average volume of 351,868. The business’s 50 day simple moving average is $264.52 and its 200-day simple moving average is $251.87. RenaissanceRe has a one year low of $219.00 and a one year high of $285.26. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 1.67 and a beta of 0.26. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business earned $10.23 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities analysts predict that RenaissanceRe will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s payout ratio is currently 4.45%.

About RenaissanceRe

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.