RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $286.36 Consensus Price Target from Brokerages

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received an average rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $284.00.

Several brokerages recently weighed in on RNR. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Bank of America raised their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research report on Friday, January 10th.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNR. V Square Quantitative Management LLC raised its stake in shares of RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of RenaissanceRe by 19.8% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock valued at $292,000 after buying an additional 47 shares during the period. Finally, UMB Bank n.a. raised its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Up 0.2 %

RenaissanceRe stock opened at $257.38 on Monday. The firm has a 50-day moving average price of $262.33 and a two-hundred day moving average price of $255.42. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 3.71, a PEG ratio of 1.79 and a beta of 0.44. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe has a 52-week low of $203.35 and a 52-week high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s revenue was up 52.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.33 earnings per share. Sell-side analysts expect that RenaissanceRe will post 42.29 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. RenaissanceRe’s payout ratio is presently 2.25%.

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.