RenaissanceRe Holdings Ltd. (NYSE:RNR) Receives $286.36 Consensus Target Price from Analysts

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has earned an average rating of "Hold" from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $286.36.

Several equities research analysts have recently weighed in on the company. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Evercore ISI boosted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a research report on Thursday, November 7th. StockNews.com lowered RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on RenaissanceRe from $310.00 to $318.00 and gave the company an "outperform" rating in a research report on Friday.

RenaissanceRe Price Performance

RNR stock traded up $3.42 during midday trading on Monday, reaching $253.47. The company had a trading volume of 535,466 shares, compared to its average volume of 446,894. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe has a 1-year low of $203.35 and a 1-year high of $300.00. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 3.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. The stock has a 50 day moving average price of $263.52 and a 200-day moving average price of $254.35.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm 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%. The business's quarterly revenue was up 52.1% on a year-over-year basis. During the same period last year, the company posted $8.33 EPS. Equities research analysts expect that RenaissanceRe will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe's dividend payout ratio is presently 2.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in RenaissanceRe during the third quarter worth $30,000. UMB Bank n.a. lifted its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in RenaissanceRe during the third quarter worth about $45,000. V Square Quantitative Management LLC boosted its stake in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 41 shares during the period. Finally, LRI Investments LLC grew its stake in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider's stock worth $63,000 after purchasing an additional 214 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.