RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $279.90 Average Target Price from Brokerages

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been given a consensus recommendation of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $279.90.

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th.

RenaissanceRe Stock Up 1.2 %

Shares of NYSE RNR opened at $233.73 on Friday. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. RenaissanceRe has a 52 week low of $208.98 and a 52 week high of $300.00. The firm has a 50-day moving average price of $250.82 and a 200 day moving average price of $257.75. The company has a quick ratio of 1.43, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities research analysts anticipate that RenaissanceRe will post 29.92 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is presently 4.45%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC lifted its stake in shares of RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after buying an additional 47 shares during the period. UMB Bank n.a. raised its position in shares of RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the period. Finally, Lifestyle Asset Management Inc. raised its position in shares of RenaissanceRe by 1.1% in the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Company Profile

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.