RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts rate RenaissanceRe a "Hold" — 18 firms cover the stock (1 sell, 15 hold, 2 buy) with an average 12‑month price target of about $302.29.
• Quarterly results beat expectations: the company reported $13.34 EPS vs. $10.59 expected and $2.97B revenue vs. $1.73B expected, with revenue up 29.6% year‑over‑year and analysts forecasting ~26.04 EPS for the year.
• RenaissanceRe raised its quarterly dividend to $0.41 (annualized $1.64, ~0.5% yield), and the stock is overwhelmingly institutionally owned (~99.97%) with several large hedge‑fund positions added in Q4.

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have earned an average recommendation of "Hold" from the eighteen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $302.2857.

RNR has been the topic of a number of recent research reports. Mizuho raised their price target on shares of RenaissanceRe from $277.00 to $313.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Cantor Fitzgerald raised their price target on shares of RenaissanceRe from $252.00 to $282.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Citigroup raised their price target on shares of RenaissanceRe from $328.00 to $333.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Wells Fargo & Company raised their price target on shares of RenaissanceRe from $281.00 to $306.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $267.00 price objective on shares of RenaissanceRe in a research note on Wednesday, January 7th.

RenaissanceRe Price Performance

Shares of RNR opened at $302.26 on Wednesday. The firm has a market capitalization of $13.04 billion, a PE ratio of 5.33, a PEG ratio of 0.70 and a beta of 0.24. The company's 50-day moving average is $296.74 and its 200-day moving average is $275.75. RenaissanceRe has a fifty-two week low of $222.75 and a fifty-two week high of $315.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, beating the consensus estimate of $10.59 by $2.75. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company's revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm earned $8.06 earnings per share. Equities analysts forecast that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe's dividend payout ratio is currently 2.89%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the sale, the executive vice president directly owned 73,023 shares in the company, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On RenaissanceRe

A number of hedge funds have recently made changes to their positions in RNR. Lightrock Netherlands B.V. boosted its stake in shares of RenaissanceRe by 4,690.1% in the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider's stock valued at $286,083,000 after purchasing an additional 996,266 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in RenaissanceRe in the 4th quarter valued at approximately $178,519,000. Norges Bank bought a new position in RenaissanceRe in the 4th quarter valued at approximately $168,582,000. Egerton Capital UK LLP bought a new position in RenaissanceRe in the 4th quarter valued at approximately $137,944,000. Finally, GQG Partners LLC bought a new position in RenaissanceRe in the 4th quarter valued at approximately $108,780,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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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