RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $290.09.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI upped their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Finally, Barclays started coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target on the stock.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On RenaissanceRe

A number of large investors have recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new position in RenaissanceRe during the third quarter worth $30,000. Blue Trust Inc. acquired a new position in shares of RenaissanceRe during the 2nd quarter worth $27,000. UMB Bank n.a. increased its holdings in shares of RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of RenaissanceRe in the third quarter valued at about $45,000. Finally, V Square Quantitative Management LLC boosted its holdings in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after buying an additional 41 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $249.95 on Thursday. The stock’s 50-day moving average is $268.97 and its two-hundred day moving average is $251.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 3.60, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. RenaissanceRe has a 1-year low of $191.61 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company earned $8.33 earnings per share. The firm’s revenue was up 52.1% compared to the same quarter last year. Analysts forecast that RenaissanceRe will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.62%. RenaissanceRe’s payout ratio is 2.25%.

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.