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

Key Points

• Analysts collectively rate RenaissanceRe “Hold.” Of 17 analysts, 11 recommend holding, five recommend buying, and one recommends selling; the average 12-month price target is $336.33.
• RenaissanceRe reported quarterly earnings of $12.92 per share on $2.77 billion in revenue, with a 23.65% net margin and 23.10% return on equity. Shares opened at $318.06, down 1.2%.
• The company declared a quarterly dividend of $0.41 per share, equivalent to $1.64 annually and a 0.5% yield. An executive also sold 5,000 shares valued at approximately $1.67 million.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has been given an average rating of "Hold" by the seventeen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $336.3333.

Several research firms have commented on RNR. Weiss Ratings raised shares of RenaissanceRe from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, June 25th. TD Cowen increased their price objective on shares of RenaissanceRe from $300.00 to $315.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. Citigroup upgraded RenaissanceRe from a "neutral" rating to a "buy" rating and lifted their price target for the company from $335.00 to $345.00 in a research report on Wednesday, June 10th. Keefe, Bruyette & Woods lifted their target price on RenaissanceRe from $342.00 to $350.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Mizuho boosted their price target on shares of RenaissanceRe from $325.00 to $329.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th.

Insider Activity

In related news, EVP Robert Qutub sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the sale, the executive vice president directly owned 72,907 shares in the company, valued at $24,280,218.21. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of RenaissanceRe

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RenaissanceRe by 39.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider's stock valued at $2,325,000 after acquiring an additional 2,737 shares during the last quarter. Millennium Management LLC acquired a new position in shares of RenaissanceRe in the 1st quarter worth $15,289,000. Jones Financial Companies Lllp raised its position in shares of RenaissanceRe by 900.0% during the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider's stock worth $324,000 after purchasing an additional 1,215 shares during the period. Goldman Sachs Group Inc. raised its position in shares of RenaissanceRe by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider's stock worth $13,725,000 after purchasing an additional 24,027 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of RenaissanceRe by 18.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 69 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Down 1.2%

Shares of RNR stock opened at $318.06 on Tuesday. RenaissanceRe has a 1 year low of $231.17 and a 1 year high of $335.97. The firm has a market capitalization of $13.22 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.17. The stock has a fifty day moving average of $311.92 and a two-hundred day moving average of $302.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. The business had revenue of $2.77 billion for the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. As a group, research analysts expect that RenaissanceRe will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe's dividend payout ratio (DPR) is 2.81%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

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