Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have been assigned an average rating of "Hold" from the sixteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $283.0833.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $303.00 price target on shares of RenaissanceRe in a research note on Thursday, October 9th. Keefe, Bruyette & Woods increased their price objective on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of RenaissanceRe in a report on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of RenaissanceRe in a research report on Tuesday. They issued a "sell" rating and a $256.00 price target for the company. Finally, Morgan Stanley reduced their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th.
Get Our Latest Stock Report on RenaissanceRe
RenaissanceRe Trading Up 1.0%
NYSE RNR opened at $264.73 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The firm's fifty day moving average price is $247.27 and its 200 day moving average price is $243.47. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 2.26 and a beta of 0.27. RenaissanceRe has a 12 month low of $219.00 and a 12 month high of $300.00.
RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating analysts' consensus estimates of $10.28 by $2.01. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company's revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $12.41 EPS. On average, sell-side analysts expect that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.
RenaissanceRe Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.09%.
Hedge Funds Weigh In On RenaissanceRe
Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in RenaissanceRe by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after buying an additional 676,125 shares during the period. Boston Partners lifted its position in RenaissanceRe by 4.6% in the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock valued at $505,509,000 after purchasing an additional 92,825 shares during the period. Cooke & Bieler LP lifted its position in RenaissanceRe by 18.0% in the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after purchasing an additional 190,139 shares during the period. Impax Asset Management Group plc lifted its position in RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider's stock valued at $295,494,000 after purchasing an additional 122,732 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of RenaissanceRe by 17.6% during the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider's stock worth $195,182,000 after buying an additional 120,063 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.
About RenaissanceRe
(
Get Free Report)
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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