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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $309.2667.

Several equities analysts have commented on RNR shares. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $281.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. UBS Group reissued a “neutral” rating and set a $312.00 target price on shares of RenaissanceRe in a report on Monday, February 9th. Finally, Citigroup downgraded shares of RenaissanceRe from a “buy” rating to a “neutral” rating and raised their price target for the company from $298.00 to $328.00 in a research note on Monday, February 9th.

RenaissanceRe Trading Down 3.1%

Shares of RenaissanceRe stock opened at $301.21 on Tuesday. The firm’s 50 day moving average is $280.30 and its 200 day moving average is $261.74. The firm has a market capitalization of $13.10 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.74 and a beta of 0.24. RenaissanceRe has a 1 year low of $219.00 and a 1 year high of $315.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $8.06 earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. Equities research analysts forecast that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.82%.

Insider Activity at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares in the company, valued at $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Trading of RenaissanceRe

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of RenaissanceRe in the 4th quarter valued at $387,000. Vanguard Personalized Indexing Management LLC raised its position in shares of RenaissanceRe by 12.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,883 shares of the insurance provider’s stock worth $1,935,000 after acquiring an additional 761 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of RenaissanceRe in the 4th quarter worth about $25,259,000. MML Investors Services LLC lifted its stake in shares of RenaissanceRe by 18.8% in the 4th quarter. MML Investors Services LLC now owns 12,593 shares of the insurance provider’s stock valued at $3,541,000 after purchasing an additional 1,997 shares during the period. Finally, Mariner LLC boosted its position in shares of RenaissanceRe by 1.2% during the 4th quarter. Mariner LLC now owns 10,952 shares of the insurance provider’s stock valued at $3,082,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Company Profile

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.