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

RenaissanceRe Holdings Ltd. (NYSE:RNR) has received an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $283.40.

Several analysts have issued reports on the company. Jefferies Financial Group restated a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th.

RenaissanceRe Price Performance

RNR opened at $242.46 on Friday. The firm has a market cap of $11.94 billion, a P/E ratio of 6.92, a PEG ratio of 2.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The firm has a 50-day moving average of $239.76 and a 200 day moving average of $256.52.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, research analysts expect that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.66%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

Insiders Place Their Bets

In other 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 value of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On RenaissanceRe

Several large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe in the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Jones Financial Companies Lllp lifted its position in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares in the last quarter. Institutional investors 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.