RenaissanceRe’s (RNR) “Hold” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of RenaissanceRe (NYSE:RNR) in a research report released on Wednesday morning, Marketbeat reports. They currently have a $282.00 target price on the insurance provider’s stock, down from their prior target price of $304.00.

Other equities research analysts have also recently issued reports about the company. Bank of America upped their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Evercore ISI lifted their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and an average target price of $290.09.

RenaissanceRe Trading Up 0.4 %

Shares of RNR stock opened at $249.37 on Wednesday. RenaissanceRe has a 52-week low of $190.89 and a 52-week high of $300.00. The company has a 50-day simple moving average of $271.08 and a two-hundred day simple moving average of $250.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 3.59, a PEG ratio of 1.31 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.33 EPS. Research analysts anticipate that RenaissanceRe will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.63%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its holdings in RenaissanceRe by 2.6% in the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider’s stock valued at $2,516,000 after acquiring an additional 232 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of RenaissanceRe in the 3rd quarter worth approximately $405,000. World Investment Advisors LLC purchased a new position in shares of RenaissanceRe in the third quarter worth approximately $16,176,000. Rehmann Capital Advisory Group bought a new stake in RenaissanceRe during the third quarter valued at approximately $256,000. Finally, Coldstream Capital Management Inc. purchased a new stake in RenaissanceRe during the third quarter valued at approximately $257,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.