RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $331.80 Average PT from Brokerages

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average recommendation of “Hold” from the seventeen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $331.80.

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen lifted their target price on shares of RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Finally, Cantor Fitzgerald increased their price target on RenaissanceRe from $340.00 to $354.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th.

RenaissanceRe Trading Down 0.1%

Shares of NYSE:RNR opened at $322.88 on Friday. The stock has a 50 day moving average of $302.22 and a 200 day moving average of $297.08. The company has a market cap of $13.76 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 1.26 and a beta of 0.17. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe has a 12-month low of $231.17 and a 12-month high of $329.57.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion for the quarter. As a group, equities research analysts expect that RenaissanceRe will post 40.57 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

Institutional Trading of RenaissanceRe

Several institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its stake in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after buying an additional 37 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in RenaissanceRe by 20.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock valued at $65,000 after buying an additional 39 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in RenaissanceRe by 2.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 40 shares during the last quarter. Signaturefd LLC increased its stake in RenaissanceRe by 8.9% in the 4th quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 41 shares during the last quarter. Finally, Midwest Professional Planners LTD. raised its holdings in shares of RenaissanceRe by 1.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock worth $985,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors 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.