RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $337.50.

A number of analysts have recently issued reports on RNR shares. Royal Bank Of Canada initiated coverage on shares of RenaissanceRe in a research note on Tuesday, September 22nd. They set a “sector perform” rating and a $365.00 target price for the company. Jefferies Financial Group raised shares of RenaissanceRe from a “hold” rating to a “market outperform” rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. UBS Group set a $349.00 price objective on shares of RenaissanceRe and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th.

RenaissanceRe Price Performance

RNR opened at $352.52 on Friday. The business has a fifty day moving average of $331.16 and a 200 day moving average of $316.05. The stock has a market cap of $14.65 billion, a P/E ratio of 6.05, a PEG ratio of 0.99 and a beta of 0.12. 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 has a 52-week low of $231.17 and a 52-week high of $363.84.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%. The business had revenue of $2.77 billion for the quarter. As a group, sell-side analysts anticipate that RenaissanceRe will post 45.66 EPS for the current year.

RenaissanceRe Dividend Announcement

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

Insider Activity

In related news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the transaction, the executive vice president owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors and hedge funds have recently bought and sold shares of RNR. Signaturefd LLC grew its position in shares of RenaissanceRe by 25.0% during the 3rd quarter. Signaturefd LLC now owns 691 shares of the insurance provider’s stock worth $220,000 after buying an additional 138 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of RenaissanceRe by 29.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,958 shares of the insurance provider’s stock valued at $941,000 after buying an additional 667 shares during the period. Root Financial Partners LLC purchased a new position in shares of RenaissanceRe during the third quarter valued at $85,000. JSF Financial LLC increased its stake in shares of RenaissanceRe by 6.2% during the third quarter. JSF Financial LLC now owns 4,454 shares of the insurance provider’s stock valued at $1,417,000 after buying an additional 261 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of RenaissanceRe by 5.6% in the third quarter. Quadrant Capital Group LLC now owns 5,965 shares of the insurance provider’s stock valued at $2,033,000 after acquiring an additional 318 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.