RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $249.00 Consensus PT from Brokerages

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $249.00.

A number of analysts have recently issued reports on RNR shares. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI raised their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $212.31 on Thursday. RenaissanceRe has a twelve month low of $174.22 and a twelve month high of $239.42. The company has a market cap of $11.23 billion, a PE ratio of 4.69, a price-to-earnings-growth ratio of 1.47 and a beta of 0.38. The business’s 50 day moving average price is $224.21 and its two-hundred day moving average price is $220.71. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the firm earned $8.16 EPS. The firm’s revenue was up 41.3% compared to the same quarter last year. On average, analysts predict that RenaissanceRe will post 37.17 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Hedge Funds Weigh In On RenaissanceRe

A number of hedge funds have recently added to or reduced their stakes in RNR. Riverview Trust Co acquired a new stake in shares of RenaissanceRe during the 1st quarter worth $26,000. Rise Advisors LLC bought a new position in RenaissanceRe in the 1st quarter valued at about $31,000. Mather Group LLC. acquired a new position in shares of RenaissanceRe in the 1st quarter valued at approximately $34,000. GAMMA Investing LLC acquired a new position in shares of RenaissanceRe in the 4th quarter valued at approximately $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $38,000. Institutional investors own 99.97% of the company’s stock.

About RenaissanceRe

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.