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

RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $177.80.

RNR has been the subject of a number of research reports. Morgan Stanley boosted their target price on RenaissanceRe from $172.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 23rd. TheStreet cut RenaissanceRe from a “b-” rating to a “c” rating in a report on Thursday, March 10th. Finally, StockNews.com initiated coverage on RenaissanceRe in a report on Thursday, March 31st. They set a “hold” rating for the company.

NYSE RNR opened at $154.32 on Thursday. RenaissanceRe has a 12 month low of $134.70 and a 12 month high of $174.54. The company has a 50-day moving average of $151.43 and a 200-day moving average of $156.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $6.82 billion, a P/E ratio of -95.26 and a beta of 0.55.

RenaissanceRe (NYSE:RNRGet Rating) last issued its earnings results on Tuesday, January 25th. The insurance provider reported $4.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.71 by $1.00. RenaissanceRe had a positive return on equity of 1.67% and a negative net margin of 0.76%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned ($1.59) EPS. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. As a group, equities research analysts anticipate that RenaissanceRe will post 16.83 EPS for the current year.

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

Several institutional investors have recently added to or reduced their stakes in RNR. Norges Bank purchased a new position in shares of RenaissanceRe during the 4th quarter valued at approximately $72,933,000. SRB Corp boosted its stake in shares of RenaissanceRe by 206.1% during the 4th quarter. SRB Corp now owns 478,529 shares of the insurance provider’s stock valued at $81,029,000 after buying an additional 322,200 shares during the last quarter. FIL Ltd boosted its stake in shares of RenaissanceRe by 8,987.9% during the 3rd quarter. FIL Ltd now owns 322,802 shares of the insurance provider’s stock valued at $44,999,000 after buying an additional 319,250 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $8,104,000. Finally, Cooke & Bieler LP boosted its stake in shares of RenaissanceRe by 28.0% during the 3rd quarter. Cooke & Bieler LP now owns 992,795 shares of the insurance provider’s stock valued at $138,396,000 after buying an additional 217,095 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

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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