RenaissanceRe (RNR) Stock Price, News & Analysis

Company Overview

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products around the world. The company was founded in 1993 and is headquartered in Bermuda with offices in Ireland, Australia, Switzerland, Singapore, and the US.

The company operates through two segments that include multiple underlying businesses and investment vehicles. The two main segments are Property and Casualty & Specialty.  The company operates through intermediaries that include DaVinci Resinsurance Inc, Top Layer Reinsurance LTD, and RennaisanceRe Syndicate 1458 among others.

Top Layer Re is the first major venture and was started in 1999. It is a joint venture with State Farm targeting high layers of the US reinsurance business. DaVinci Re was formed in the wake of 9/11 to assist with capacity and it was given added capacity in the wake of hurricanes Katrina, Rita, and Wilma. Medici was formed in 2009 and is an open-ended fund intended to spur investment in the catastrophe bond market.

The Property segment writes catastrophic insurance policies to insure insurance and reinsurance companies against natural and man-made catastrophes. These include but are not limited to hurricanes, floods, freezes, and terrorism.

The Casualty & Specialty segment provides a wide range of consumer products including business insurance, malpractice insurance, liability insurance, workers' compensation, mortgage insurance, and health insurance among others.

Among RenaissanceRe’s Specialty businesses is capital management. The firm offers 6 investment vehicles and has more than $11 billion under management making it the #1 ILS or insurance-linked asset manager in the US. In regards to its credit ratings, the firm and all of its vehicles carry an A or better rating from every credit rating agency.

 

Written by Jeffrey Neal Johnson

Key Stats

• Today's Range: $263.56 to $266.94
• 50-Day Range: $253.73 to $283.44
• 52-Week Range: $188.24 to $300.00
• Volume: 328,579 shs
• Average Volume: 358,616 shs
• Market Capitalization: $13.73 billion
• P/E Ratio: 3.81
• Dividend Yield: 0.59%
• Price Target: $293.00
• Consensus Rating: Hold

RenaissanceRe Stock Analysis - MarketRank™

RenaissanceRe scored higher than 90% of companies evaluated by MarketBeat, and ranked 142nd out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.2 / 5
• Analyst Rating: Hold

Consensus Rating

RenaissanceRe has received a consensus rating of Hold. The company's average rating score is 2.42, and is based on 6 buy ratings, 5 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

RenaissanceRe has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: -12.16%

Earnings Growth

Earnings for RenaissanceRe are expected to decrease by -12.16% in the coming year, from $40.31 to $35.41 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of RenaissanceRe is 3.81, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 131.16.

Price to Earnings Ratio vs. Sector

The P/E ratio of RenaissanceRe is 3.81, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 49.34.

Price to Earnings Growth Ratio

RenaissanceRe has a PEG Ratio of 1.32. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

RenaissanceRe has a P/B Ratio of 1.55. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.46% of the float of RenaissanceRe has been sold short.

Short Interest Ratio / Days to Cover

RenaissanceRe has a short interest ratio ("days to cover") of 4.5.

Change versus previous month

Short interest in RenaissanceRe has recently decreased by 4.60%, indicating that investor sentiment is improving.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Yield

RenaissanceRe has a dividend yield of 0.60%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

RenaissanceRe has been increasing its dividend for 29 years.

Dividend Coverage

The dividend payout ratio of RenaissanceRe is 2.25%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, RenaissanceRe will have a dividend payout ratio of 4.41% next year. This indicates that RenaissanceRe will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 0.9 / 5
• Environmental Score: -0.71

Percentage of Shares Shorted

3.46% of the float of RenaissanceRe has been sold short.

Short Interest Ratio / Days to Cover

RenaissanceRe has a short interest ratio ("days to cover") of 4.5.

Change versus previous month

Short interest in RenaissanceRe has recently decreased by 4.60%, indicating that investor sentiment is improving.

News and Social Media

• Score: 3.3 / 5
• News Sentiment: 0.89

News Sentiment

RenaissanceRe has a news sentiment score of 0.89. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.76 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 7 news articles for RenaissanceRe this week, compared to 6 articles on an average week.

MarketBeat Follows

2 people have added RenaissanceRe to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, RenaissanceRe insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $548,000.00 in company stock.

Percentage Held by Insiders

Only 1.80% of the stock of RenaissanceRe is held by insiders.

Percentage Held by Institutions

99.97% of the stock of RenaissanceRe is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

RNR Stock Analysis - Frequently Asked Questions

How have RNR shares performed this year?

RenaissanceRe's stock was trading at $196.00 on January 1st, 2024. Since then, RNR stock has increased by 34.8% and is now trading at $264.30.
View the best growth stocks for 2024 here.

How were RenaissanceRe's earnings last quarter?

RenaissanceRe Holdings Ltd. (NYSE:RNR) issued its quarterly earnings results on Wednesday, November, 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts' consensus estimates of $7.89 by $2.34. The company's quarterly revenue was up 52.1% compared to the same quarter last year.

Who are RenaissanceRe's major shareholders?

Top institutional investors of RenaissanceRe include State Street Corp (3.82%), Impax Asset Management Group plc (3.25%), Geode Capital Management LLC (1.77%) and Jennison Associates LLC (0.75%). Insiders that own company stock include Kevin Odonnell, David E Marra, Robert Qutub, Brian Gerald John Gray, David C Bushnell, Sean G Brosnan and Carol P Sanders.
View institutional ownership trends.

How do I buy shares of RenaissanceRe?

Shares of RNR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of RenaissanceRe own?

Based on aggregate information from My MarketBeat watchlists, some other companies that RenaissanceRe investors own include Meta Platforms (META), NVIDIA (NVDA), Advanced Micro Devices (AMD), JPMorgan Chase & Co. (JPM), Exxon Mobil (XOM), Netflix (NFLX) and Tesla (TSLA).

Company Calendar

• Ex-Dividend for 9/30 Dividend: 9/13/2024
• Dividend Payable: 9/30/2024
• Last Earnings: 11/06/2024
• Today: 11/21/2024
• Ex-Dividend for 12/31 Dividend: 12/13/2024
• Dividend Payable: 12/31/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/04/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Fire, marine, & casualty insurance
• Sub-Industry: Reinsurance
• Current Symbol: NYSE:RNR
• CUSIP: G7496G10
• CIK: 913144
• Web: www.renre.com
• Phone: (441) 295-4513
• Fax: 441-292-9453
• Employees: 925
• Year Founded: 1993

Price Target and Rating

• Average Stock Price Target: $293.00
• High Stock Price Target: $391.00
• Low Stock Price Target: $240.00
• Potential Upside/Downside: +10.9%
• Consensus Rating: Hold
• Rating Score (0-4): 2.42
• Research Coverage: 12 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $69.40
• Trailing P/E Ratio: 3.81
• Forward P/E Ratio: 6.56
• P/E Growth: 1.32
• Net Income: $2.56 billion
• Net Margins: 28.84%
• Pretax Margin: 35.68%
• Return on Equity: 26.31%
• Return on Assets: 4.85%

Debt

• Debt-to-Equity Ratio: 0.18
• Current Ratio: 1.43
• Quick Ratio: 1.43

Sales & Book Value

• Annual Sales: $9.13 billion
• Price / Sales: 1.50
• Cash Flow: $33.54 per share
• Price / Cash Flow: 7.88
• Book Value: $170.11 per share
• Price / Book: 1.55

Miscellaneous

• Outstanding Shares: 51,940,000
• Free Float: 51,005,000
• Market Cap: $13.73 billion
• Optionable: Optionable
• Beta: 0.39