RenaissanceRe (NYSE:RNR) Shares Up 1.7%

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) shot up 1.7% during trading on Wednesday . The stock traded as high as $224.33 and last traded at $224.17. 17,568 shares were traded during trading, a decline of 95% from the average session volume of 361,950 shares. The stock had previously closed at $220.46.

Analyst Ratings Changes

Several research firms recently commented on RNR. TD Cowen assumed coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating for the company. UBS Group lifted their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Evercore ISI lifted their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets lifted their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $247.89.

RenaissanceRe Trading Down 2.2 %

The business’s fifty day simple moving average is $228.76 and its 200 day simple moving average is $214.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.46 billion, a P/E ratio of 4.25, a price-to-earnings-growth ratio of 2.48 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the firm earned $7.33 EPS. The company’s revenue was up 17.9% on a year-over-year basis. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 34.39 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio is currently 3.05%.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total value of $209,050.00. Following the transaction, the executive vice president now owns 80,449 shares of the company’s stock, valued at approximately $16,817,863.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total value of $209,050.00. Following the transaction, the executive vice president now owns 80,449 shares of the company’s stock, valued at approximately $16,817,863.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the transaction, the director now directly owns 5,363 shares in the company, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,130 shares of company stock valued at $1,167,479. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BOKF NA boosted its stake in RenaissanceRe by 0.4% during the 4th quarter. BOKF NA now owns 11,270 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 46 shares during the last quarter. CWM LLC boosted its stake in RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after acquiring an additional 49 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in RenaissanceRe by 2.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 1,926 shares of the insurance provider’s stock worth $377,000 after acquiring an additional 49 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in RenaissanceRe by 4.9% during the 1st quarter. Snowden Capital Advisors LLC now owns 1,166 shares of the insurance provider’s stock worth $234,000 after acquiring an additional 54 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in RenaissanceRe by 1.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock worth $704,000 after acquiring an additional 59 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.