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

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $298.0667.

A number of brokerages have weighed in on RNR. Mizuho set a $277.00 price target on RenaissanceRe in a research report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $300.00 price target on shares of RenaissanceRe in a report on Tuesday, December 16th. Cantor Fitzgerald upped their price objective on shares of RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, BMO Capital Markets restated an “outperform” rating and set a $303.00 target price on shares of RenaissanceRe in a research note on Friday, December 5th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its stake in shares of RenaissanceRe by 0.3% in the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock valued at $672,792,000 after buying an additional 7,839 shares during the period. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 11.2% during the 2nd quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after acquiring an additional 122,732 shares during the period. Lightrock Netherlands B.V. grew its holdings in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after purchasing an additional 996,266 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of RenaissanceRe by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after purchasing an additional 45,936 shares during the period. Finally, Bank of America Corp DE increased its position in shares of RenaissanceRe by 17.6% in the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after purchasing an additional 120,063 shares during the period. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $274.51 on Friday. The company has a fifty day moving average price of $271.39 and a two-hundred day moving average price of $256.41. RenaissanceRe has a one year low of $219.00 and a one year high of $285.26. The stock has a market cap of $12.66 billion, a P/E ratio of 7.63, a P/E/G ratio of 2.89 and a beta of 0.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm earned $10.23 EPS. RenaissanceRe’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts predict that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

About RenaissanceRe

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.