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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned an average rating of “Hold” from the nineteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $298.0667.

Several research analysts have recently weighed in on the stock. Mizuho set a $277.00 price objective on shares of RenaissanceRe in a research note on Wednesday, January 14th. UBS Group boosted their price target on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Finally, Cantor Fitzgerald increased their price target on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its position in RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. IFP Advisors Inc increased its stake in shares of RenaissanceRe by 160.0% during the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 72 shares during the period. Financial Consulate Inc. acquired a new stake in RenaissanceRe during the 3rd quarter worth approximately $29,000. Huntington National Bank boosted its stake in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in RenaissanceRe by 151.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 1.0%

NYSE:RNR opened at $271.41 on Friday. RenaissanceRe has a twelve month low of $219.00 and a twelve month high of $285.26. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 6.43 and a beta of 0.26. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $270.77 and its two-hundred day moving average price is $255.43.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating the consensus estimate of $9.49 by $6.13. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the business earned $10.23 earnings per share. Equities research analysts expect that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio is presently 4.45%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.