RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Has Average Price Target of $337.50

Key Points

• Analysts give RenaissanceRe an average “Hold” rating, with 11 hold, six buy and one sell recommendation. The average 12-month price target is $337.50.
• RNR recently traded at $352.52, near its 52-week high of $363.84, while reporting quarterly EPS of $12.92 on $2.77 billion in revenue and a 23.65% net margin.
• Institutional investors own 99.97% of the stock, while an executive sold 5,000 shares for about $1.67 million. RenaissanceRe also pays a quarterly dividend of $0.41, yielding approximately 0.5%.

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have been given an average rating of "Hold" by the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $337.50.

Several research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $342.00 to $350.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Jefferies Financial Group upgraded RenaissanceRe from a "hold" rating to a "market outperform" rating in a research report on Tuesday, September 22nd. Bank of America raised their price objective on RenaissanceRe from $410.00 to $438.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Mizuho raised their price objective on RenaissanceRe from $325.00 to $329.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Wolfe Research set a $315.00 target price on RenaissanceRe in a report on Tuesday, July 7th.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the transaction, the executive vice president directly owned 72,907 shares of the company's stock, valued at $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RenaissanceRe

Several hedge funds and other institutional investors have recently made changes to their positions in RNR. Sone Capital Management LLC bought a new position in RenaissanceRe during the 2nd quarter valued at about $4,092,000. Allianz Asset Management GmbH raised its position in RenaissanceRe by 38.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 136,192 shares of the insurance provider's stock worth $43,159,000 after purchasing an additional 37,903 shares during the period. Candriam S.C.A. purchased a new stake in RenaissanceRe in the 1st quarter worth about $6,202,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in RenaissanceRe in the second quarter worth about $1,878,000. Finally, Deutsche Bank AG bought a new stake in RenaissanceRe in the second quarter worth about $2,242,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Down 2.8%

RNR stock opened at $352.52 on Friday. The firm has a fifty day moving average price of $331.16 and a 200 day moving average price of $316.05. RenaissanceRe has a fifty-two week low of $231.17 and a fifty-two week high of $363.84. 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 firm has a market cap of $14.65 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.12.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share (EPS) for the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The company had revenue of $2.77 billion for the quarter. Sell-side analysts anticipate that RenaissanceRe will post 45.66 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.41 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe's dividend payout ratio (DPR) is currently 2.81%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe's reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.

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