Analysts Set RenaissanceRe Holdings Ltd. (RNR) Target Price at $144.86

RenaissanceRe Holdings Ltd. (NYSE:RNR) has earned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $144.86.

A number of analysts have commented on the company. Wells Fargo & Co restated a “market perform” rating and issued a $125.00 price target (down previously from $140.00) on shares of RenaissanceRe in a research report on Tuesday, January 9th. Citigroup reduced their price target on RenaissanceRe from $148.00 to $146.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Zacks Investment Research upgraded RenaissanceRe from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. UBS Group upped their price target on RenaissanceRe from $135.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $136.00 price target on shares of RenaissanceRe in a research report on Monday, October 16th.

In other news, CEO Kevin Odonnell sold 5,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $131.65, for a total value of $658,250.00. Following the completion of the transaction, the chief executive officer now owns 190,707 shares of the company’s stock, valued at $25,106,576.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sean G. Brosnan sold 1,391 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $135.73, for a total value of $188,800.43. Following the completion of the transaction, the senior vice president now directly owns 8,405 shares of the company’s stock, valued at approximately $1,140,810.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,391 shares of company stock valued at $1,524,950. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNR. Americafirst Capital Management LLC bought a new position in RenaissanceRe during the second quarter valued at approximately $161,000. Nomura Holdings Inc. bought a new position in RenaissanceRe during the second quarter valued at approximately $212,000. Citigroup Inc. boosted its stake in RenaissanceRe by 262.5% during the second quarter. Citigroup Inc. now owns 1,566 shares of the insurance provider’s stock valued at $218,000 after buying an additional 1,134 shares during the last quarter. Cadence Capital Management LLC bought a new position in RenaissanceRe during the third quarter valued at approximately $219,000. Finally, ETRADE Capital Management LLC boosted its stake in RenaissanceRe by 5.2% during the second quarter. ETRADE Capital Management LLC now owns 1,637 shares of the insurance provider’s stock valued at $228,000 after buying an additional 81 shares during the last quarter. 93.38% of the stock is owned by hedge funds and other institutional investors.

Shares of RenaissanceRe (RNR) traded down $1.66 on Monday, reaching $121.26. The company’s stock had a trading volume of 338,517 shares, compared to its average volume of 447,767. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $4,880.75, a PE ratio of -26.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.67. RenaissanceRe has a fifty-two week low of $116.50 and a fifty-two week high of $152.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 31st. The insurance provider reported ($13.81) EPS for the quarter, missing analysts’ consensus estimates of ($12.25) by ($1.56). The company had revenue of $483.22 million during the quarter, compared to analysts’ expectations of $300.46 million. RenaissanceRe had a negative return on equity of 5.82% and a negative net margin of 7.60%. The business’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS. equities research analysts forecast that RenaissanceRe will post -8.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 14th. RenaissanceRe’s dividend payout ratio (DPR) is -28.01%.

RenaissanceRe declared that its board has authorized a share repurchase program on Friday, November 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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About RenaissanceRe

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

Analyst Recommendations for RenaissanceRe (NYSE:RNR)

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