RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Average Rating of "Hold" by Brokerages

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has earned an average recommendation of "Hold" from the eleven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $287.50.

RNR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a report on Tuesday, April 8th. Morgan Stanley reduced their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a report on Monday. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, Jefferies Financial Group reduced their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th.

Insider Buying and Selling

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer owned 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On RenaissanceRe

A number of large investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of RenaissanceRe during the 4th quarter worth $27,000. IFP Advisors Inc lifted its stake in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider's stock worth $28,000 after purchasing an additional 72 shares during the period. Brooklyn Investment Group lifted its stake in shares of RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock worth $35,000 after purchasing an additional 88 shares during the period. Tsfg LLC purchased a new position in shares of RenaissanceRe during the 1st quarter worth $40,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider's stock worth $45,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Trading Down 0.3%

Shares of RNR stock opened at $243.85 on Friday. The business's 50 day moving average is $242.35 and its two-hundred day moving average is $241.27. RenaissanceRe has a twelve month low of $219.00 and a twelve month high of $300.00. The company has a market capitalization of $11.48 billion, a P/E ratio of 6.23, a price-to-earnings-growth ratio of 2.51 and a beta of 0.30. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating the consensus estimate of $10.28 by $2.01. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $12.41 EPS. Equities analysts forecast that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 15th. RenaissanceRe's dividend payout ratio is 4.09%.

About RenaissanceRe

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.

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