Brokerages Set RenaissanceRe Holdings Ltd. (NYSE:RNR) Price Target at $293.00

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $293.00.

RNR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group upped their target price on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. Wells Fargo & Company upped their target price on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upped their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RNR. Acadian Asset Management LLC lifted its position in shares of RenaissanceRe by 741.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock valued at $261,000 after buying an additional 979 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $46,000. Axxcess Wealth Management LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $223,000. Quadrature Capital Ltd purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $810,000. Finally, PEAK6 Investments LLC lifted its position in shares of RenaissanceRe by 100.9% during the 1st quarter. PEAK6 Investments LLC now owns 10,826 shares of the insurance provider’s stock valued at $2,544,000 after buying an additional 5,436 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of RNR opened at $285.44 on Friday. RenaissanceRe has a 52-week low of $188.24 and a 52-week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The business’s 50 day moving average price is $269.96 and its two-hundred day moving average price is $246.02. The firm has a market cap of $14.83 billion, a PE ratio of 4.11, a price-to-earnings-growth ratio of 1.36 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $8.33 earnings per share. RenaissanceRe’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, equities analysts anticipate that RenaissanceRe will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.