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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $247.89.

Several analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Evercore ISI increased their price target on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research note on Thursday. UBS Group raised their price objective on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. TD Cowen initiated coverage on RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at $18,251,071. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total transaction of $209,050.00. Following the transaction, the executive vice president now directly owns 80,449 shares of the company’s stock, valued at $16,817,863.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David E. Marra sold 750 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the transaction, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The disclosure for this sale can be found here. Insiders sold a total of 5,130 shares of company stock valued at $1,167,479 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in shares of RenaissanceRe during the first quarter valued at about $26,000. Nepsis Inc. lifted its position in RenaissanceRe by 2.5% in the 1st quarter. Nepsis Inc. now owns 90,241 shares of the insurance provider’s stock valued at $21,209,000 after acquiring an additional 2,175 shares in the last quarter. Global Assets Advisory LLC acquired a new position in RenaissanceRe during the 1st quarter valued at about $10,329,000. Range Financial Group LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $677,000. Finally, Alaska Permanent Fund Corp raised its stake in shares of RenaissanceRe by 3.0% in the first quarter. Alaska Permanent Fund Corp now owns 17,425 shares of the insurance provider’s stock worth $4,095,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $215.78 on Friday. The stock’s 50-day moving average is $228.54 and its 200-day moving average is $214.93. RenaissanceRe has a 1-year low of $174.22 and a 1-year high of $239.42. 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 $11.37 billion, a P/E ratio of 4.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $7.33 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts anticipate that RenaissanceRe will post 34.39 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. RenaissanceRe’s dividend payout ratio is presently 3.05%.

About RenaissanceRe

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.