RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Average Recommendation of "Hold" from Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have received an average rating of "Hold" from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $283.60.

Several research analysts have commented on RNR shares. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Barclays cut their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley set a $285.00 target price on RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company cut their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 27,154 shares of the company's stock, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RNR. Aster Capital Management DIFC Ltd purchased a new position in shares of RenaissanceRe in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new position in shares of RenaissanceRe in the 4th quarter valued at approximately $29,000. Jones Financial Companies Lllp grew its stake in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 1.2%

NYSE:RNR traded down $2.93 during midday trading on Thursday, reaching $244.03. The company had a trading volume of 239,895 shares, compared to its average volume of 438,231. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 2.09 and a beta of 0.31. The stock's fifty day simple moving average is $242.35 and its 200-day simple moving average is $245.56. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the business earned $12.18 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

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.