RenaissanceRe (NYSE:RNR) Trading Down 2.8%

RenaissanceRe Holdings Ltd. (NYSE:RNR) shares traded down 2.8% during trading on Tuesday . The company traded as low as $215.00 and last traded at $215.00. 16,983 shares changed hands during trading, a decline of 95% from the average session volume of 335,380 shares. The stock had previously closed at $221.17.

Analyst Ratings Changes

RNR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI lifted their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $249.00.

RenaissanceRe Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The firm has a market cap of $11.23 billion, a P/E ratio of 4.69, a P/E/G ratio of 1.40 and a beta of 0.38. The business has a fifty day simple moving average of $224.21 and a 200-day simple moving average of $220.71.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.86 by $2.32. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the business earned $8.16 EPS. RenaissanceRe’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 37.17 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. RenaissanceRe’s payout ratio is 3.45%.

Institutional Trading of RenaissanceRe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in RenaissanceRe by 96.9% in the second quarter. GAMMA Investing LLC now owns 569 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 280 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of RenaissanceRe by 4.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 54,866 shares of the insurance provider’s stock worth $12,895,000 after purchasing an additional 2,187 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of RenaissanceRe in the 1st quarter worth about $201,000. Atria Investments Inc purchased a new stake in RenaissanceRe during the 1st quarter valued at about $1,168,000. Finally, Delphi Management Inc. MA purchased a new stake in RenaissanceRe during the 1st quarter valued at about $1,728,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

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.