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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given an average rating of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $279.90.

Several brokerages recently weighed in on RNR. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley reduced their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st.

RenaissanceRe Stock Up 1.4 %

Shares of NYSE RNR opened at $240.91 on Tuesday. RenaissanceRe has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business’s fifty day moving average price is $243.82 and its 200-day moving average price is $258.09. The stock has a market capitalization of $11.87 billion, a PE ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.43.

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

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is 4.57%.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RenaissanceRe

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