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

Key Points

• Analysts have assigned RenaissanceRe a consensus rating of "Hold" from 17 firms (1 sell, 12 hold, 4 buy) with an average 12‑month price target of $321.93.
• RenaissanceRe reported Q1 EPS of $13.75, beating the $11.07 consensus, but revenue missed at $2.19B (down 36.8% year‑over‑year) despite strong profitability metrics.
• Institutional ownership is effectively complete at 99.97%, with large Q4 stakes added by Lightrock Netherlands, Orbis Allan Gray, Norges Bank, Egerton and GQG Partners.

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have been assigned a consensus rating of "Hold" from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $321.9286.

A number of research analysts have recently commented on the company. Morgan Stanley downgraded RenaissanceRe from an "overweight" rating to an "equal weight" rating and set a $310.00 target price for the company. in a research report on Thursday, February 26th. Evercore set a $309.00 target price on RenaissanceRe in a research report on Thursday, April 9th. Cantor Fitzgerald upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and increased their target price for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Barclays lowered their target price on RenaissanceRe from $341.00 to $328.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Wall Street Zen downgraded RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Saturday.

RenaissanceRe Trading Down 2.7%

Shares of RNR opened at $298.83 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.43. The firm has a market cap of $12.74 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 0.82 and a beta of 0.23. RenaissanceRe has a 1 year low of $231.17 and a 1 year high of $318.20. The company has a 50 day simple moving average of $301.47 and a two-hundred day simple moving average of $282.04.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Tuesday, April 28th. The insurance provider reported $13.75 EPS for the quarter, beating analysts' consensus estimates of $11.07 by $2.68. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.84 billion. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The company's quarterly revenue was down 36.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.49) EPS. On average, equities analysts expect that RenaissanceRe will post 38.28 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.40. RenaissanceRe's dividend payout ratio is currently 2.73%.

Insider Transactions at RenaissanceRe

In related news, EVP Robert Qutub sold 5,000 shares of the firm's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, the executive vice president directly owned 73,023 shares in the company, valued at $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of RenaissanceRe

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

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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