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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given a consensus recommendation of “Hold” by the nine brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $249.00.

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

RenaissanceRe Stock Down 1.1 %

Shares of NYSE:RNR opened at $221.06 on Thursday. The firm has a fifty day moving average price of $224.50 and a two-hundred day moving average price of $220.66. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 4.88, a PEG ratio of 1.47 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. RenaissanceRe has a one year low of $174.22 and a one year high of $239.42.

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

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Institutional Trading of RenaissanceRe

A number of hedge funds have recently made changes to their positions in RNR. CWM LLC increased its stake in RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 49 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of RenaissanceRe by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after acquiring an additional 50 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of RenaissanceRe by 1.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 73 shares during the last quarter. Benedict Financial Advisors Inc. boosted its holdings in RenaissanceRe by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock worth $2,866,000 after purchasing an additional 77 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in RenaissanceRe by 1.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,594 shares of the insurance provider’s stock worth $1,550,000 after purchasing an additional 78 shares during the period. 99.97% of the stock is owned by institutional investors.

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.