RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• RenaissanceRe has a consensus “Hold” rating from 17 brokerages: 11 analysts rate it a hold, five recommend buying, and one recommends selling. The average 12-month price target is $336.33.
• The company reported $12.92 in quarterly EPS on $2.77 billion in revenue, with a 23.65% net margin and 23.10% return on equity. Shares recently opened at $329.98, near their 52-week high of $340.24.
• RenaissanceRe declared a quarterly dividend of $0.41 per share, equal to a $1.64 annualized payout and a 0.5% yield. EVP Robert Qutub also sold 5,000 shares, while institutional investors own 99.97% of the stock.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has earned a consensus rating of "Hold" from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $336.3333.

A number of equities research analysts have commented on RNR shares. TD Cowen increased their price objective on shares of RenaissanceRe from $300.00 to $315.00 and gave the company a "hold" rating in a research report on Tuesday, July 7th. UBS Group set a $349.00 target price on shares of RenaissanceRe and gave the stock a "neutral" rating in a research note on Monday, July 27th. Mizuho increased their target price on RenaissanceRe from $325.00 to $329.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Wolfe Research set a $315.00 price target on RenaissanceRe in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective on RenaissanceRe from $306.00 to $329.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the transaction, the executive vice president directly owned 72,907 shares in the company, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP raised its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider's stock worth $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. Kingdom Financial Group LLC. acquired a new position in RenaissanceRe in the fourth quarter valued at $36,000. Continuum Advisory LLC purchased a new position in shares of RenaissanceRe during the second quarter worth about $38,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $329.98 on Friday. RenaissanceRe has a one year low of $231.17 and a one year high of $340.24. The company has a market cap of $13.71 billion, a PE ratio of 5.66, a P/E/G ratio of 1.23 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50-day simple moving average of $323.06 and a 200-day simple moving average of $307.45.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The firm had revenue of $2.77 billion for the quarter. On average, equities research analysts forecast that RenaissanceRe will post 42.4 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe's payout ratio is presently 2.81%.

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.

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