Zacks Research Lowers Earnings Estimates for RenaissanceRe

RenaissanceRe Holdings Ltd. (NYSE:RNR) – Investment analysts at Zacks Research decreased their Q2 2027 earnings per share (EPS) estimates for shares of RenaissanceRe in a report issued on Monday, November 10th. Zacks Research analyst Team now expects that the insurance provider will post earnings per share of $12.46 for the quarter, down from their previous forecast of $12.95. The consensus estimate for RenaissanceRe’s current full-year earnings is $26.04 per share.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company posted $10.23 earnings per share. RenaissanceRe’s revenue was down 4.8% compared to the same quarter last year.

A number of other research firms also recently weighed in on RNR. UBS Group lifted their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on RenaissanceRe from $278.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. The Goldman Sachs Group assumed coverage on RenaissanceRe in a research report on Tuesday, October 14th. They set a “sell” rating and a $256.00 target price for the company. Cowen restated a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Finally, Barclays set a $278.00 price target on RenaissanceRe in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $283.67.

RenaissanceRe Stock Performance

NYSE RNR opened at $265.68 on Tuesday. The firm has a 50-day moving average price of $251.82 and a two-hundred day moving average price of $246.04. RenaissanceRe has a 12-month low of $219.00 and a 12-month high of $290.78. The company has a market capitalization of $12.25 billion, a P/E ratio of 7.38, a P/E/G ratio of 2.08 and a beta of 0.25. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, December 15th. RenaissanceRe’s dividend payout ratio is currently 4.45%.

Institutional Trading of RenaissanceRe

Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its stake in shares of RenaissanceRe by 1.2% during the third quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock worth $852,000 after buying an additional 40 shares during the last quarter. AMG National Trust Bank boosted its holdings in shares of RenaissanceRe by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock valued at $1,469,000 after acquiring an additional 40 shares in the last quarter. Advisors Asset Management Inc. grew its position in RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 42 shares during the last quarter. Benedict Financial Advisors Inc. grew its position in RenaissanceRe by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock worth $3,055,000 after acquiring an additional 42 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in RenaissanceRe by 3.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Company Profile

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.