RenaissanceRe - RNR Stock Forecast, Price & News

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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. multi-line reinsurance. The Casualty and Specialty segment writes various classes of products, such as directors and officers, medical malpractice, and professional indemnity; automobile and employer's liability, casualty clash, umbrella or excess casualty, workers' compensation, and general liability; financial and mortgage guaranty, political risk, surety, and trade credit; and accident and health, agriculture, aviation, cyber, energy, marine, satellite, and terrorism. The company distributes its products and services primarily through intermediaries. RenaissanceRe Holdings Ltd. was founded in 1993 and is headquartered in Pembroke, Bermuda.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of RenaissanceRe from $175.00 to $162.00 and set an "equal weight" rating for the company in a research report on Monday, May 23rd. Jefferies Financial Group lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating and reduced their price objective for the company from $173.00 to $162.00 in a research note on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $180.67.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $137.29 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.23. RenaissanceRe has a 1-year low of $124.18 and a 1-year high of $174.54. The firm's 50 day simple moving average is $143.68 and its two-hundred day simple moving average is $148.54.

RenaissanceRe (NYSE:RNR - Get Rating) last released its quarterly earnings data on Monday, July 25th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.40. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.73 billion. RenaissanceRe had a negative net margin of 19.70% and a positive return on equity of 3.88%. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.64 earnings per share. On average, research analysts anticipate that RenaissanceRe will post 14.65 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, September 14th. RenaissanceRe's payout ratio is currently -6.81%.

Insider Activity

In other RenaissanceRe news, Director Brian Gerald John Gray purchased 7,500 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of $130.62 per share, for a total transaction of $979,650.00. Following the completion of the transaction, the director now owns 23,621 shares of the company's stock, valued at approximately $3,085,375.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David C. Bushnell sold 600 shares of the company's stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $148.41, for a total value of $89,046.00. Following the completion of the sale, the director now directly owns 19,914 shares of the company's stock, valued at $2,955,436.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Gerald John Gray bought 7,500 shares of RenaissanceRe stock in a transaction on Wednesday, August 10th. The stock was purchased at an average price of $130.62 per share, with a total value of $979,650.00. Following the completion of the acquisition, the director now directly owns 23,621 shares of the company's stock, valued at approximately $3,085,375.02. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company's stock.