RenaissanceRe (NYSE:RNR) Trading Up 1.7%

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) shares were up 1.7% on Wednesday . The company traded as high as $224.33 and last traded at $224.17. Approximately 17,568 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 361,950 shares. The stock had previously closed at $220.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RNR. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $204.00 to $237.00 and gave the company a "neutral" rating in a research report on Monday. TD Cowen began coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a "market perform" rating for the company. UBS Group lifted their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Evercore ISI assumed coverage on shares of RenaissanceRe in a research report on Thursday, December 14th. They set an "underperform" rating and a $200.00 target price for the company. Finally, BMO Capital Markets lifted their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an "outperform" rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $246.11.

RenaissanceRe Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $11.72 billion, a P/E ratio of 4.34, a PEG ratio of 2.48 and a beta of 0.30. The company's fifty day simple moving average is $228.87 and its 200-day simple moving average is $214.82.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.13 by $3.64. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $7.33 EPS. Research analysts predict that RenaissanceRe Holdings Ltd. will post 34.46 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.39 dividend. This is a boost from RenaissanceRe's previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. RenaissanceRe's dividend payout ratio (DPR) is presently 3.05%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares of the company's stock, valued at approximately $16,518,653.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the firm's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the transaction, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the sale, the executive vice president now directly owns 79,699 shares of the company's stock, valued at approximately $18,251,071. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,130 shares of company stock worth $1,167,479. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On RenaissanceRe

A number of institutional investors have recently modified their holdings of the stock. BOKF NA boosted its holdings in RenaissanceRe by 0.4% during the fourth quarter. BOKF NA now owns 11,270 shares of the insurance provider's stock worth $2,209,000 after buying an additional 46 shares in the last quarter. CWM LLC boosted its stake in shares of RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider's stock worth $143,000 after acquiring an additional 49 shares in the last quarter. Midwest Professional Planners LTD. grew its position in shares of RenaissanceRe by 2.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 1,926 shares of the insurance provider's stock valued at $377,000 after acquiring an additional 49 shares during the period. Snowden Capital Advisors LLC increased its stake in shares of RenaissanceRe by 4.9% in the 1st quarter. Snowden Capital Advisors LLC now owns 1,166 shares of the insurance provider's stock valued at $234,000 after purchasing an additional 54 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in RenaissanceRe by 1.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider's stock worth $704,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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, binding facilities, and regional U.S.