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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given an average rating of “Hold” by the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $249.00.

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. TD Cowen began coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating for the company. Evercore ISI raised their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. UBS Group upped their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RenaissanceRe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of RenaissanceRe by 8.7% in the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 49 shares during the period. State of Alaska Department of Revenue lifted its holdings in RenaissanceRe by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after buying an additional 50 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in RenaissanceRe by 1.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock valued at $704,000 after acquiring an additional 59 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in RenaissanceRe by 1.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after acquiring an additional 73 shares during the last quarter. Finally, Benedict Financial Advisors Inc. grew its holdings in RenaissanceRe by 0.6% during the 1st quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock worth $2,866,000 after acquiring an additional 77 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.9 %

RNR stock opened at $225.01 on Wednesday. The company has a market cap of $11.90 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. RenaissanceRe has a 52 week low of $174.22 and a 52 week high of $239.42. The business has a 50-day simple moving average of $226.33 and a 200 day simple moving average of $216.37.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.16 EPS. Sell-side analysts anticipate that RenaissanceRe will post 35.4 EPS for the current fiscal year.

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.