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

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) has been given an average recommendation of "Hold" by the eleven research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $283.40.

Several brokerages have recently issued reports on RNR. 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 report on Friday, January 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Jefferies Financial Group reaffirmed a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Finally, Barclays lowered RenaissanceRe from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

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Institutional Investors Weigh In On RenaissanceRe

A number of institutional investors have recently made changes to their positions in RNR. Aster Capital Management DIFC Ltd bought a new position in RenaissanceRe in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe during the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after buying an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 1.6 %

NYSE RNR traded up $3.86 during trading on Friday, hitting $243.86. 354,844 shares of the company's stock traded hands, compared to its average volume of 408,806. The stock has a fifty day moving average of $239.42 and a two-hundred day moving average of $256.43. RenaissanceRe has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market cap of $11.95 billion, a P/E ratio of 6.96, a PEG ratio of 2.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, sell-side analysts expect that RenaissanceRe will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.40 dividend. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is currently 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.