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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given a consensus recommendation of “Hold” by the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $336.3333.

Several equities research analysts have recently weighed in on RNR shares. Wells Fargo & Company increased their target price on shares of RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Morgan Stanley upped their price objective on shares of RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Evercore set a $330.00 target price on shares of RenaissanceRe in a research report on Thursday, July 23rd. Wolfe Research set a $315.00 price objective on shares of RenaissanceRe in a research note on Tuesday, July 7th. Finally, TD Cowen lifted their price objective on RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th.

RenaissanceRe Price Performance

RNR stock opened at $329.98 on Friday. 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 market capitalization of $13.71 billion, a P/E ratio of 5.66, a PEG ratio of 1.23 and a beta of 0.17. The business has a 50 day simple moving average of $323.06 and a 200-day simple moving average of $307.45. RenaissanceRe has a twelve month low of $231.17 and a twelve month high of $340.24.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. The firm had revenue of $2.77 billion during the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. As a group, equities analysts anticipate that RenaissanceRe will post 42.4 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 15th. RenaissanceRe’s dividend payout ratio is presently 2.81%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the sale, the executive vice president owned 72,907 shares of the company’s stock, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

A number of large investors have recently modified their holdings of the stock. Quarry LP increased its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Kingdom Financial Group LLC. acquired a new position in shares of RenaissanceRe during the fourth quarter valued at $36,000. Continuum Advisory LLC bought a new position in RenaissanceRe in the 2nd quarter worth approximately $38,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of RenaissanceRe during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

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.