RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Consensus Recommendation of "Hold" by Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have received an average rating of "Hold" from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $283.60.

Several equities research analysts have weighed in on RNR shares. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Jefferies Financial Group dropped their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the firm's stock in a transaction dated 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 now owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of RenaissanceRe

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in shares of RenaissanceRe by 462.8% in the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock worth $215,035,000 after buying an additional 710,698 shares during the period. Norges Bank bought a new position in shares of RenaissanceRe during the fourth quarter valued at $173,530,000. Price T Rowe Associates Inc. MD increased its position in shares of RenaissanceRe by 37.2% during the first 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 acquiring an additional 676,125 shares in the last quarter. Boston Partners raised its holdings in RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after acquiring an additional 446,781 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in RenaissanceRe by 33,487.8% during the 1st quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock valued at $95,040,000 after purchasing an additional 394,821 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Price Performance

RNR stock traded down $1.80 during midday trading on Thursday, reaching $244.75. The company had a trading volume of 95,456 shares, compared to its average volume of 436,237. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 2.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe has a 1-year low of $208.98 and a 1-year high of $300.00. The stock has a 50 day moving average price of $241.97 and a 200-day moving average price of $246.37.

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

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio is currently 5.10%.

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.