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 brokerages recently commented on RNR. Jefferies Financial Group lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating and cut their price target for the stock from $173.00 to $162.00 in a report on Tuesday, July 12th. Morgan Stanley cut their price target on shares of RenaissanceRe from $175.00 to $162.00 and set an "equal weight" rating for the company in a report on Monday, May 23rd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $180.67.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock traded up $2.19 during trading hours on Wednesday, reaching $130.92. 260,919 shares of the company's stock were exchanged, compared to its average volume of 381,010. RenaissanceRe has a 1 year low of $124.18 and a 1 year high of $174.54. The company has a market capitalization of $5.72 billion, a P/E ratio of -6.03 and a beta of 0.40. The business has a fifty day moving average of $144.71 and a two-hundred day moving average of $149.07. 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 (NYSE:RNR - Get Rating) last released its earnings results on Monday, July 25th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.40. RenaissanceRe had a negative net margin of 19.70% and a positive return on equity of 3.88%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $5.64 earnings per share. The company's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts predict that RenaissanceRe will post 14.65 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, September 14th. RenaissanceRe's payout ratio is -6.81%.

Insider Transactions at RenaissanceRe

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 owns 19,914 shares of the company's stock, valued at $2,955,436.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company's stock.