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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given an average rating of “Hold” by the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $331.80.

Several equities research analysts recently issued reports on the company. Citigroup raised RenaissanceRe from a “neutral” rating to a “buy” rating and upped their price target for the company from $335.00 to $345.00 in a research report on Wednesday, June 10th. Barclays boosted their target price on shares of RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on shares of RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Cantor Fitzgerald raised their price target on shares of RenaissanceRe from $340.00 to $354.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd.

RenaissanceRe Stock Up 2.3%

Shares of RenaissanceRe stock opened at $314.74 on Friday. The business has a 50-day moving average price of $301.77 and a 200 day moving average price of $296.81. RenaissanceRe has a fifty-two week low of $231.17 and a fifty-two week high of $329.57. The firm has a market cap of $13.42 billion, a P/E ratio of 5.25, a P/E/G ratio of 1.14 and a beta of 0.17. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. On average, sell-side analysts forecast that RenaissanceRe will post 40.57 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.41 per share. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is 2.73%.

Hedge Funds Weigh In On RenaissanceRe

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP grew its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of RenaissanceRe by 235.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares during the last quarter. Kingdom Financial Group LLC. bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $36,000. Mcguire Capital Advisors Inc. acquired a new position in RenaissanceRe during the 4th quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. boosted its position in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.