Brokerages Set RenaissanceRe Holdings Ltd. (NYSE:RNR) Target Price at $189.67

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $189.67.

Several research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $160.00 to $162.00 and gave the stock an “underweight” rating in a report on Monday, January 4th. TheStreet upgraded RenaissanceRe from a “c+” rating to a “b-” rating in a report on Wednesday, January 27th. The Goldman Sachs Group upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price objective for the company from $194.00 to $199.00 in a report on Friday, January 8th. Finally, Morgan Stanley decreased their price objective on RenaissanceRe from $195.00 to $191.00 and set an “equal weight” rating for the company in a report on Thursday, April 22nd.

NYSE RNR traded up $1.43 during trading hours on Thursday, hitting $168.55. 6,628 shares of the company were exchanged, compared to its average volume of 396,496. The stock has a market cap of $8.39 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.51 and a beta of 0.45. The stock has a 50-day moving average price of $167.69 and a 200 day moving average price of $165.73. RenaissanceRe has a 52 week low of $137.90 and a 52 week high of $201.29. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, April 28th. The insurance provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.65). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.67 billion. RenaissanceRe had a net margin of 12.46% and a return on equity of 2.44%. The company’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. As a group, sell-side analysts anticipate that RenaissanceRe will post 3.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, March 12th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.35. RenaissanceRe’s payout ratio is currently 15.77%.

Several institutional investors have recently made changes to their positions in RNR. Diamond Hill Capital Management Inc. boosted its holdings in RenaissanceRe by 24.7% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 401,791 shares of the insurance provider’s stock worth $64,387,000 after buying an additional 79,675 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of RenaissanceRe by 3.4% during the 1st quarter. Victory Capital Management Inc. now owns 976,387 shares of the insurance provider’s stock worth $156,466,000 after purchasing an additional 32,381 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of RenaissanceRe by 21.6% during the 1st quarter. Great Lakes Advisors LLC now owns 359,301 shares of the insurance provider’s stock worth $57,578,000 after purchasing an additional 63,729 shares during the last quarter. US Bancorp DE boosted its holdings in shares of RenaissanceRe by 11.9% during the 1st quarter. US Bancorp DE now owns 11,009 shares of the insurance provider’s stock worth $1,765,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of RenaissanceRe during the 1st quarter worth approximately $229,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

Featured Story: What is the S&P/ASX 200 Index?

Analyst Recommendations for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.