RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives Consensus Rating of “Hold” from Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $283.40.

RNR has been the topic of a number of research reports. Jefferies Financial Group restated a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $284.00 to $234.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Bank of America dropped their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On RenaissanceRe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of RenaissanceRe by 8.8% during the 4th quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider’s stock worth $717,278,000 after buying an additional 233,708 shares during the last quarter. Boston Partners raised its stake in RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock worth $500,991,000 after acquiring an additional 446,781 shares in the last quarter. Impax Asset Management Group plc lifted its position in RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after acquiring an additional 182,530 shares during the last quarter. Polar Capital Holdings Plc boosted its stake in RenaissanceRe by 5.7% in the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider’s stock valued at $323,003,000 after acquiring an additional 69,884 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of RenaissanceRe by 24.3% during the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider’s stock worth $284,907,000 after purchasing an additional 223,991 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Down 5.0 %

Shares of NYSE:RNR opened at $233.04 on Friday. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 2.09 and a beta of 0.29. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The business has a 50-day moving average price of $238.43 and a 200 day moving average price of $255.98. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. Sell-side analysts expect that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is 4.57%.

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.