Analysts Set RenaissanceRe Holdings Ltd. (NYSE:RNR) PT at $280.80

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $283.80.

Several research analysts have recently issued reports on RNR shares. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $235.00 to $275.00 in a research note on Friday. Finally, Bank of America dropped their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th.

RenaissanceRe Stock Up 1.2 %

RNR traded up $2.85 during midday trading on Wednesday, reaching $238.20. The company's stock had a trading volume of 421,295 shares, compared to its average volume of 427,971. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 2.09 and a beta of 0.29. 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 has a 1 year low of $208.98 and a 1 year high of $300.00. The stock's 50-day moving average is $237.81 and its 200-day moving average is $251.74.

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

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.40 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe in the fourth quarter worth about $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe in the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp grew its position in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

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.