Zacks Research Reduces Earnings Estimates for RenaissanceRe

RenaissanceRe Holdings Ltd. (NYSE:RNR) – Analysts at Zacks Research dropped their Q2 2027 EPS estimates for RenaissanceRe in a report released on Monday, November 10th. Zacks Research analyst Team now forecasts that the insurance provider will post earnings of $12.46 per share for the quarter, down from their previous estimate of $12.95. The consensus estimate for RenaissanceRe’s current full-year earnings is $26.04 per share.

Several other research firms have also recently weighed in on RNR. Wolfe Research started coverage on RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Citigroup assumed coverage on RenaissanceRe in a research note on Wednesday, August 13th. They set a “buy” rating and a $288.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of RenaissanceRe in a research report on Friday, October 31st. UBS Group raised their price objective on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Finally, Evercore ISI set a $244.00 price objective on shares of RenaissanceRe and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $283.67.

RenaissanceRe Stock Performance

RNR stock opened at $266.34 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a market cap of $12.28 billion, a PE ratio of 7.40, a P/E/G ratio of 2.08 and a beta of 0.25. The business has a 50 day moving average of $251.43 and a 200-day moving average of $245.90. RenaissanceRe has a 12-month low of $219.00 and a 12-month high of $290.78.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business posted $10.23 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s dividend payout ratio is 4.45%.

Hedge Funds Weigh In On RenaissanceRe

Several large investors have recently modified their holdings of RNR. Hantz Financial Services Inc. raised its position in shares of RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 99 shares during the period. IFP Advisors Inc grew its stake in RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after buying an additional 72 shares in the last quarter. Financial Consulate Inc. bought a new stake in RenaissanceRe during the 3rd quarter valued at $29,000. Huntington National Bank raised its holdings in RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 79 shares in the last quarter. 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.