RenaissanceRe Holdings Ltd. (NYSE:RNR) Given Consensus Recommendation of "Hold" by Analysts

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) have received a consensus rating of "Hold" from the twelve ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $293.00.

Several equities research analysts recently weighed in on RNR shares. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a report on Thursday, November 7th. StockNews.com cut RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Barclays started coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 price objective for the company. Finally, Bank of America increased their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a report on Thursday, October 10th.

RenaissanceRe Trading Up 2.7 %

NYSE:RNR traded up $7.26 during trading hours on Friday, reaching $271.90. The company's stock had a trading volume of 367,009 shares, compared to its average volume of 487,070. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.29 and a beta of 0.39. The firm has a 50-day simple moving average of $268.86 and a 200-day simple moving average of $244.97. RenaissanceRe has a 1 year low of $188.24 and a 1 year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts' consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe's revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.33 EPS. Research analysts expect that RenaissanceRe will post 42.01 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares of the company's stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of RenaissanceRe

Several institutional investors have recently added to or reduced their stakes in RNR. Blue Trust Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in RenaissanceRe during the third quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in RenaissanceRe during the second quarter valued at $31,000. UMB Bank n.a. lifted its position in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in RenaissanceRe during the third quarter valued at $45,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

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.