RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $249.00 Average Target Price from Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $249.00.

Several equities research analysts have recently commented on the company. Evercore ISI upped their target price on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st.

Institutional Trading of RenaissanceRe

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in RenaissanceRe during the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in RenaissanceRe during the 1st quarter valued at approximately $31,000. Mather Group LLC. bought a new stake in RenaissanceRe during the 1st quarter valued at approximately $34,000. GAMMA Investing LLC bought a new stake in RenaissanceRe during the 4th quarter valued at approximately $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in RenaissanceRe during the 4th quarter valued at approximately $38,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.7 %

Shares of RenaissanceRe stock opened at $227.94 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 1.50 and a beta of 0.38. The business has a fifty day simple moving average of $224.02 and a 200-day simple moving average of $218.85. RenaissanceRe has a fifty-two week low of $174.22 and a fifty-two week high of $239.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.16 earnings per share. On average, equities analysts forecast that RenaissanceRe will post 37.26 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, June 14th. RenaissanceRe’s dividend payout ratio is 3.45%.

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.