RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Average Rating of “Hold” by Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average recommendation of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $336.3333.

Several brokerages have issued reports on RNR. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $329.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wolfe Research set a $315.00 price target on RenaissanceRe in a report on Tuesday, July 7th. Bank of America upped their price target on RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group set a $349.00 price objective on RenaissanceRe and gave the stock a “neutral” rating in a research note on Monday, July 27th.

Insider Activity

In other news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in shares of RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of 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. purchased a new stake in shares of RenaissanceRe during the fourth quarter worth $36,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of RenaissanceRe during the fourth quarter worth $38,000. Finally, SBI Securities Co. Ltd. boosted its position in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR opened at $318.06 on Tuesday. The company has a 50-day moving average of $311.92 and a two-hundred day moving average of $302.54. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 1.18 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. RenaissanceRe has a one year low of $231.17 and a one year high of $335.97.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. The business 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%. On average, equities research analysts expect that RenaissanceRe will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

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

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.