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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given an average rating of “Hold” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $293.00.

RNR has been the topic of several recent analyst reports. Bank of America raised their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective on the stock. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On RenaissanceRe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new position in shares of RenaissanceRe in the third quarter worth $30,000. Blue Trust Inc. bought a new stake in RenaissanceRe in the 2nd quarter worth about $27,000. UMB Bank n.a. raised its position in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the last quarter. V Square Quantitative Management LLC bought a new position in RenaissanceRe during the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of RenaissanceRe during the 3rd quarter valued at about $45,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Price Performance

RNR opened at $271.90 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe has a 1 year low of $188.24 and a 1 year high of $300.00. The stock’s 50 day simple moving average is $268.86 and its 200 day simple moving average is $244.84. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.29 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the business posted $8.33 EPS. As a group, analysts predict that RenaissanceRe will post 42.01 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) 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.