RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned an average recommendation of "Hold" from the nine brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $195.43.
Several equities research analysts recently issued reports on RNR shares. Morgan Stanley decreased their price target on RenaissanceRe from $220.00 to $205.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. TheStreet upgraded RenaissanceRe from a "c+" rating to a "b" rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company upped their price target on RenaissanceRe from $190.00 to $229.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th.
Shares of NYSE:RNR opened at $170.69 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.17. RenaissanceRe has a twelve month low of $113.27 and a twelve month high of $202.68. The stock's 50 day moving average is $180.22 and its 200-day moving average is $168.31. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.79 and a beta of 0.41.
RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $4.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $1.38. RenaissanceRe had a return on equity of 5.21% and a net margin of 13.02%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $4.78 earnings per share. RenaissanceRe's revenue for the quarter was up 15.4% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe will post 8.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. RenaissanceRe's dividend payout ratio (DPR) is presently 15.33%.
Hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its stake in shares of RenaissanceRe by 30.0% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,469 shares of the insurance provider's stock worth $518,000 after acquiring an additional 800 shares during the period. US Bancorp DE grew its stake in shares of RenaissanceRe by 9.7% during the 1st quarter. US Bancorp DE now owns 8,814 shares of the insurance provider's stock worth $1,316,000 after acquiring an additional 781 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of RenaissanceRe during the 2nd quarter worth $5,871,000. APG Asset Management N.V. grew its stake in shares of RenaissanceRe by 56.6% during the 1st quarter. APG Asset Management N.V. now owns 319,997 shares of the insurance provider's stock worth $47,782,000 after acquiring an additional 115,600 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of RenaissanceRe by 15.0% during the 2nd quarter. Arizona State Retirement System now owns 11,684 shares of the insurance provider's stock worth $1,998,000 after acquiring an additional 1,523 shares during the period. Institutional investors own 92.34% of the company's stock.
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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