Brokerages Set RenaissanceRe Holdings Ltd. (NYSE:RNR) Target Price at $279.90

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) 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 assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $279.90.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Evercore ISI lifted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm's 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 completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

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Institutional Trading of RenaissanceRe

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after purchasing an additional 233,708 shares in the last quarter. Boston Partners grew its stake in shares of RenaissanceRe by 28.5% in the fourth 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 grew its stake in shares of 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 worth $466,969,000 after acquiring an additional 182,530 shares in the last quarter. Polar Capital Holdings Plc increased its position in shares of RenaissanceRe by 5.7% during the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock worth $323,003,000 after acquiring an additional 69,884 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after purchasing an additional 223,991 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock traded up $0.61 during mid-day trading on Tuesday, reaching $243.81. 600,241 shares of the stock traded hands, compared to its average volume of 543,458. The business has a 50-day moving average of $243.45 and a 200 day moving average of $257.92. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.01 billion, a PE ratio of 6.96, a PEG ratio of 2.09 and a beta of 0.38. RenaissanceRe has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 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%. On average, analysts predict that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is 4.57%.

About RenaissanceRe

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.