Jefferies Financial Group Analysts Decrease Earnings Estimates for RenaissanceRe Holdings Ltd. (NYSE:RNR)

RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) – Equities researchers at Jefferies Financial Group decreased their Q2 2022 EPS estimates for shares of RenaissanceRe in a research report issued to clients and investors on Monday, April 11th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will earn $5.55 per share for the quarter, down from their prior estimate of $5.84. Jefferies Financial Group also issued estimates for RenaissanceRe’s Q4 2022 earnings at $5.10 EPS.

A number of other brokerages have also commented on RNR. Morgan Stanley boosted their target price on RenaissanceRe from $172.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 23rd. TheStreet lowered RenaissanceRe from a “b-” rating to a “c” rating in a research report on Thursday, March 10th. Finally, assumed coverage on RenaissanceRe in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $177.80.

Shares of RenaissanceRe stock opened at $153.76 on Tuesday. RenaissanceRe has a one year low of $134.70 and a one year high of $175.12. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -94.91 and a beta of 0.55. The business has a 50-day simple moving average of $151.60 and a 200 day simple moving average of $155.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.45.

RenaissanceRe (NYSE:RNRGet Rating) last announced its quarterly earnings data on Tuesday, January 25th. The insurance provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $1.00. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.02 billion. RenaissanceRe had a positive return on equity of 1.67% and a negative net margin of 0.76%. The firm’s revenue was up 49.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.59) EPS.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a dividend of $0.37 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Monday, March 14th. RenaissanceRe’s payout ratio is currently -91.36%.

A number of institutional investors and hedge funds have recently modified their holdings of RNR. Quent Capital LLC purchased a new stake in shares of RenaissanceRe during the fourth quarter worth $27,000. Parallel Advisors LLC increased its holdings in shares of RenaissanceRe by 125.8% in the fourth quarter. Parallel Advisors LLC now owns 219 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 122 shares during the period. Signaturefd LLC increased its holdings in shares of RenaissanceRe by 40.2% in the third quarter. Signaturefd LLC now owns 251 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 72 shares during the period. Toth Financial Advisory Corp increased its holdings in shares of RenaissanceRe by 121.8% in the fourth quarter. Toth Financial Advisory Corp now owns 264 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 145 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of RenaissanceRe in the fourth quarter worth $45,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

About RenaissanceRe (Get Rating)

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

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