RenaissanceRe (NYSE:RNR) Upgraded to Hold at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded RenaissanceRe (NYSE:RNR) to a "hold" rating, reflecting a more cautious outlook.
• RenaissanceRe's recent earnings report showed a profit of $12.29 EPS, surpassing analysts' estimates, despite a revenue decline of 2.4% year-over-year.
• Institutional investors hold approximately 99.97% of RenaissanceRe's stock, indicating strong confidence from larger financial entities.

Cantor Fitzgerald upgraded shares of RenaissanceRe (NYSE:RNR - Free Report) to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports. Cantor Fitzgerald also issued estimates for RenaissanceRe's FY2025 earnings at $26.53 EPS and FY2026 earnings at $34.33 EPS.

Other equities research analysts have also recently issued reports about the stock. Citigroup assumed coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They issued a "buy" rating and a $288.00 target price on the stock. Barclays raised their price target on shares of RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Wells Fargo & Company restated an "equal weight" rating and issued a $269.00 price target (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. UBS Group boosted their price target on shares of RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Morgan Stanley lowered their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $282.09.

RenaissanceRe Price Performance

Shares of RNR stock traded up $2.46 during trading hours on Wednesday, hitting $242.07. 57,603 shares of the company's stock were exchanged, compared to its average volume of 482,498. The stock's 50-day moving average is $241.26 and its 200-day moving average is $240.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $11.39 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 2.34 and a beta of 0.29. RenaissanceRe has a 52 week low of $219.00 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the previous year, the company posted $12.41 EPS. RenaissanceRe's revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. RenaissanceRe's dividend payout ratio (DPR) is presently 4.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider's stock worth $27,000 after purchasing an additional 99 shares in the last quarter. IFP Advisors Inc boosted its position in RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider's stock worth $28,000 after purchasing an additional 72 shares in the last quarter. Huntington National Bank lifted its position in shares of RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Brooklyn Investment Group raised its stake in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. Finally, Tsfg LLC acquired a new position in RenaissanceRe in the 1st quarter valued at $40,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.