DOWLING & PARTN Comments on RenaissanceRe FY2028 Earnings

Key Points

• DOWLING & PARTN expects RenaissanceRe to earn $43.00 per share in FY2028, above the current consensus estimate of $41.08.
• RenaissanceRe exceeded quarterly expectations, reporting $12.92 EPS versus the $11.72 consensus and revenue of $2.77 billion versus $2.57 billion expected.
• Analyst sentiment remains cautious overall, with five Buy, eleven Hold, and one Sell rating; the average price target is $335.80, while shares recently opened at $328.94.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) - Equities researchers at DOWLING & PARTN issued their FY2028 EPS estimates for shares of RenaissanceRe in a research report issued on Friday, July 24th. DOWLING & PARTN analyst N. Iacoviello anticipates that the insurance provider will post earnings per share of $43.00 for the year. The consensus estimate for RenaissanceRe's current full-year earnings is $41.08 per share.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping analysts' consensus estimates of $11.72 by $1.20. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.57 billion. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. During the same period in the previous year, the firm posted $12.29 EPS.

RNR has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $329.00 to $360.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Bank of America lifted their target price on RenaissanceRe from $410.00 to $438.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. TD Cowen boosted their target price on RenaissanceRe from $300.00 to $315.00 and gave the company a "hold" rating in a research report on Tuesday, July 7th. Barclays increased their price target on RenaissanceRe from $328.00 to $341.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Finally, UBS Group set a $349.00 price target on RenaissanceRe and gave the stock a "neutral" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $335.80.

RenaissanceRe Stock Down 0.0%

Shares of NYSE:RNR opened at $328.94 on Tuesday. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 1.24 and a beta of 0.17. RenaissanceRe has a 12 month low of $231.17 and a 12 month high of $331.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $305.71 and a 200 day moving average price of $298.97.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Lightrock Netherlands B.V. lifted its stake 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 acquiring an additional 996,266 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in RenaissanceRe in the 4th quarter valued at $178,519,000. Norges Bank bought a new position in RenaissanceRe in the 4th quarter valued at $168,582,000. Egerton Capital UK LLP bought a new position in RenaissanceRe in the 4th quarter valued at $137,944,000. Finally, GQG Partners LLC purchased a new stake in RenaissanceRe in the fourth quarter worth $108,780,000. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe's payout ratio is 2.81%.

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.

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