The price of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares last traded on Wall Street rose 1.39% to $194.67.
Based on available information, 10 analysts follow RenaissanceRe Holdings Ltd. (NYSE:RNR). 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 $187.00, we find $250.00. Given the previous closing price of $192.00, this indicates a potential upside of 30.21 percent. RNR stock price is now -3.90% away from the 50-day moving average and 8.20% away from the 200-day moving average. The market capitalization of the company currently stands at $8.39B.
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Among analysts, 4 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $240.86 as their price target over the next twelve months.
In other news, Sanders Carol P, Director sold 1,515 shares of the company’s stock on Feb 16. The stock was sold for $320,146 at an average price of $211.32. Upon completion of the transaction, the Director now directly owns 5,629 shares in the company, valued at $1.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 29, SVP, Chief Investment Officer Brosnan Sean G sold 850 shares of the business’s stock. A total of $159,579 was realized by selling the stock at an average price of $187.74. This leaves the insider owning 19,038 shares of the company worth $3.71 million. Insiders disposed of 52,184 shares of company stock worth roughly $10.16 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 EGERTON CAPITAL (UK) LLP during the first quarter worth $121,309,000. LOS ANGELES CAPITAL MANAGEMENT LLC invested $20,226,000 in shares of RNR during the first quarter. In the first quarter, VERITION FUND MANAGEMENT LLC acquired a new stake in RenaissanceRe Holdings Ltd. valued at approximately $20,062,000. WESTWOOD HOLDINGS GROUP INC acquired a new stake in RNR for approximately $12,461,000. ENGINEERS GATE MANAGER LP purchased a new stake in RNR valued at around $6,210,000 in the second quarter.
A candlestick chart of RenaissanceRe Holdings Ltd. (NYSE: RNR) showed a price of $194.00 on Thursday morning. During the past 12 months, RenaissanceRe Holdings Ltd. has had a low of $124.18 and a high of $223.80. The fifty day moving average price for RNR is $202.73 and a two-hundred day moving average price translates $180.24 for the stock.
The latest earnings results from RenaissanceRe Holdings Ltd. (NYSE: RNR) was released for Mar, 2023. According to the Insurance – Reinsurance Company, earnings per share came in at $8.16, beating analysts’ expectations of $7.24 by 0.92. This compares to -$9.10 EPS in the same period last year. The net profit margin was -2.30% and return on equity was -3.10% for RNR. The company reported revenue of $2.21 billion for the quarter, compared to $876.42 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 151.6 percent. For the current quarter, analysts expect RNR to generate $1.83B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/15/2023 were paid a $0.38 dividend. On an annualized basis, this represents a $1.52 dividend and a 0.78% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend.
RenaissanceRe Holdings Ltd.(RNR) 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. 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. It also invests in and manages funds. RenaissanceRe Holdings Ltd. was founded in 1993 and is headquartered in Pembroke, Bermuda.
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