RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $286.29 Consensus Target Price from Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR) has been given an average rating of “Hold” by the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $286.2857.

A number of brokerages recently commented on RNR. Wolfe Research assumed coverage on RenaissanceRe in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the company an “in-line” rating in a report on Wednesday, October 1st. Mizuho initiated coverage on shares of RenaissanceRe in a research note on Monday, December 15th. They issued a “neutral” rating and a $281.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of RenaissanceRe in a report on Tuesday, October 14th. They set a “sell” rating and a $256.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $303.00 target price on shares of RenaissanceRe in a research report on Friday, December 5th.

RenaissanceRe Stock Down 0.9%

NYSE RNR opened at $281.14 on Monday. RenaissanceRe has a twelve month low of $219.00 and a twelve month high of $285.26. The stock has a market cap of $12.96 billion, a PE ratio of 7.81, a PEG ratio of 1.67 and a beta of 0.26. The firm has a 50-day simple moving average of $265.30 and a 200 day simple moving average of $252.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.40.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating the consensus estimate of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the firm posted $10.23 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts forecast that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

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

Hedge Funds Weigh In On RenaissanceRe

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of RenaissanceRe by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock valued at $81,208,000 after purchasing an additional 3,070 shares in the last quarter. Amundi increased its position in shares of RenaissanceRe by 18.0% during the 1st quarter. Amundi now owns 6,924 shares of the insurance provider’s stock worth $1,699,000 after purchasing an additional 1,054 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of RenaissanceRe during the 2nd quarter worth about $4,980,000. Jane Street Group LLC lifted its holdings in RenaissanceRe by 1,180.7% during the 1st quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock valued at $17,812,000 after purchasing an additional 68,422 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in RenaissanceRe by 31.4% in the second quarter. Thrivent Financial for Lutherans now owns 15,169 shares of the insurance provider’s stock valued at $3,684,000 after buying an additional 3,622 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

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.