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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received an average recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $279.90.

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Finally, Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $284.00 to $234.00 in a research report on Monday, January 6th.

RenaissanceRe Stock Down 0.9 %

NYSE RNR opened at $241.63 on Tuesday. RenaissanceRe has a 52 week low of $208.98 and a 52 week high of $300.00. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 2.09 and a beta of 0.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $243.17 and a two-hundred day moving average of $258.06.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, analysts predict that RenaissanceRe will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On RenaissanceRe

Institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

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.