The stock of RenaissanceRe Holdings Ltd. (NYSE:RNR) last traded at $190.29, down -0.53% from the previous session.
Data from the available sources indicates that RenaissanceRe Holdings Ltd. (NYSE:RNR) is covered by 10 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $267.00 and a low of $168.00, we find $200.50. Given the previous closing price of $191.30, this indicates a potential upside of 4.81 percent. RNR stock price is now 2.36% away from the 50-day moving average and 22.56% away from the 200-day moving average. The market capitalization of the company currently stands at $8.48B.
In total, 4 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $205.88 as their price target over the next twelve months.
With the price target of $187, BMO Capital Markets recently initiated with Market Perform rating for RenaissanceRe Holdings Ltd. (NYSE: RNR). On July 12, 2022, Jefferies Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $173 to quote $162, while ‘BofA Securities’ rates the stock as ‘Buy’.
In other news, Brosnan Sean G, SVP, Chief Investment Officer sold 850 shares of the company’s stock on Nov 29. The stock was sold for $159,579 at an average price of $187.74. Upon completion of the transaction, the SVP, Chief Investment Officer now directly owns 19,038 shares in the company, valued at $3.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, Director Gray Brian Gerald John bought 7,500 shares of the business’s stock. A total of $979,650 was incurred on buying the stock at an average price of $130.62. This leaves the insider owning 23,621 shares of the company worth $4.49 million. Insiders disposed of 31,087 shares of company stock worth roughly $5.92 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RNR stock. A new stake in RenaissanceRe Holdings Ltd. shares was purchased by BALYASNY ASSET MANAGEMENT LLC during the first quarter worth $42,715,000. EMINENCE CAPITAL, LP invested $33,532,000 in shares of RNR during the first quarter. In the first quarter, ZIMMER PARTNERS, LP acquired a new stake in RenaissanceRe Holdings Ltd. valued at approximately $33,301,000. GILLSON CAPITAL LP acquired a new stake in RNR for approximately $19,885,000. SAMLYN CAPITAL, LLC purchased a new stake in RNR valued at around $12,204,000 in the second quarter. In total, there are 462 active investors with 99.20% ownership of the company’s stock.
With an opening price of $191.79 on Monday morning, RenaissanceRe Holdings Ltd. (NYSE: RNR) set off the trading day. During the past 12 months, RenaissanceRe Holdings Ltd. has had a low of $124.18 and a high of $199.85. The fifty day moving average price for RNR is $186.08 and a two-hundred day moving average price translates $155.43 for the stock.
The latest earnings results from RenaissanceRe Holdings Ltd. (NYSE: RNR) was released for Jun, 2022. According to the Insurance – Reinsurance Company, earnings per share came in at $5.52, beating analysts’ expectations of $5.41 by 0.11. This compares to -$9.75 EPS in the same period last year. The net profit margin was -29.70% and return on equity was -26.20% for RNR. The company reported revenue of $1.29 billion for the quarter, compared to $1.54 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.72 percent. For the current quarter, analysts expect RNR to generate $1.1B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/15/2022 were paid a $0.37 dividend. On an annualized basis, this represents a $1.48 dividend and a 0.78% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend.
RenaissanceRe Holdings Ltd.(RNR) 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, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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. multi-line reinsurance. The Casualty and Specialty segment writes various classes of products, such as directors and officers, medical malpractice, and professional indemnity; automobile and employer’s liability, casualty clash, umbrella or excess casualty, workers’ compensation, and general liability; financial and mortgage guaranty, political risk, surety, and trade credit; and accident and health, agriculture, aviation, cyber, energy, marine, satellite, and terrorism. The company distributes its products and services primarily through intermediaries. RenaissanceRe Holdings Ltd. was founded in 1993 and is headquartered in Pembroke, Bermuda.