Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $290.09.
RNR has been the topic of several research reports. Jefferies Financial Group reiterated a "hold" rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. StockNews.com lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price target on RenaissanceRe from $274.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, November 7th.
Read Our Latest Stock Analysis on RNR
In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of RenaissanceRe by 2.6% during the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider's stock worth $2,516,000 after acquiring an additional 232 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of RenaissanceRe during the 3rd quarter worth about $405,000. World Investment Advisors LLC acquired a new stake in shares of RenaissanceRe during the 3rd quarter valued at about $16,176,000. Rehmann Capital Advisory Group bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $256,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $257,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:RNR opened at $241.97 on Thursday. RenaissanceRe has a 52 week low of $190.89 and a 52 week high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $12.57 billion, a P/E ratio of 3.49, a PEG ratio of 1.31 and a beta of 0.41. The firm's 50 day moving average is $271.69 and its two-hundred day moving average is $250.90.
RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company posted $8.33 EPS. The firm's quarterly revenue was up 52.1% on a year-over-year basis. Analysts anticipate that RenaissanceRe will post 41.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe's payout ratio is 2.25%.
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.
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