Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have received an average rating of “Hold” from the nine ratings firms that are presently covering the company. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $116.80.
A number of analysts have weighed in on RNR shares. Keefe, Bruyette & Woods increased their target price on RenaissanceRe Holdings from $130.00 to $134.00 and gave the stock a “market perform” rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Citigroup Inc. restated a “neutral” rating on shares of RenaissanceRe Holdings in a research note on Tuesday, June 21st.
RenaissanceRe Holdings (NYSE:RNR) traded down 0.404% during trading on Monday, reaching $119.675. 52,889 shares of the company’s stock traded hands. The company has a 50 day moving average of $118.99 and a 200 day moving average of $116.35. RenaissanceRe Holdings has a one year low of $106.72 and a one year high of $122.97. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 12.140 and a beta of 0.49.
RenaissanceRe Holdings (NYSE:RNR) last released its earnings results on Tuesday, July 26th. The company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by $0.37. RenaissanceRe Holdings had a return on equity of 9.41% and a net margin of 27.26%. The business earned $483.30 million during the quarter, compared to analysts’ expectations of $410.83 million. During the same quarter in the previous year, the business earned $2.18 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. Equities research analysts predict that RenaissanceRe Holdings will post $7.36 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.24 annualized dividend and a yield of 1.03%. RenaissanceRe Holdings’s dividend payout ratio (DPR) is presently 12.50%.
In other RenaissanceRe Holdings news, COO Jeffrey D. Kelly sold 12,000 shares of RenaissanceRe Holdings stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $117.31, for a total value of $1,407,720.00. Following the transaction, the chief operating officer now owns 70,728 shares in the company, valued at $8,297,101.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Odonnell sold 3,000 shares of RenaissanceRe Holdings stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $120.28, for a total value of $360,840.00. Following the completion of the transaction, the chief executive officer now owns 270,944 shares in the company, valued at approximately $32,589,144.32. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP raised its position in RenaissanceRe Holdings by 0.7% in the second quarter. ARGA Investment Management LP now owns 6,341 shares of the company’s stock valued at $745,000 after buying an additional 41 shares during the period. CIBC Asset Management Inc increased its stake in shares of RenaissanceRe Holdings by 0.7% in the second quarter. CIBC Asset Management Inc now owns 6,180 shares of the company’s stock valued at $726,000 after buying an additional 43 shares in the last quarter. US Bancorp DE increased its stake in shares of RenaissanceRe Holdings by 0.9% in the second quarter. US Bancorp DE now owns 9,959 shares of the company’s stock valued at $1,170,000 after buying an additional 85 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of RenaissanceRe Holdings by 0.8% in the second quarter. Mackenzie Financial Corp now owns 10,697 shares of the company’s stock valued at $1,256,000 after buying an additional 85 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of RenaissanceRe Holdings by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 16,595 shares of the company’s stock valued at $1,989,000 after buying an additional 100 shares in the last quarter. Institutional investors own 94.78% of the company’s stock.
About RenaissanceRe Holdings
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.
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