RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) - Investment analysts at Zacks Research increased their FY2024 earnings estimates for shares of RenaissanceRe in a report released on Tuesday, November 19th. Zacks Research analyst K. Dey now expects that the insurance provider will earn $42.10 per share for the year, up from their prior forecast of $38.01. The consensus estimate for RenaissanceRe's current full-year earnings is $40.57 per share. Zacks Research also issued estimates for RenaissanceRe's Q4 2024 earnings at $7.28 EPS, Q3 2025 earnings at $4.34 EPS, Q4 2025 earnings at $8.57 EPS, Q2 2026 earnings at $12.95 EPS and Q3 2026 earnings at $4.78 EPS.
RenaissanceRe (NYSE:RNR - Get Free Report) last released 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. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the firm earned $8.33 earnings per share. The business's revenue for the quarter was up 52.1% on a year-over-year basis.
RNR has been the subject of several other reports. Bank of America boosted their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Barclays started coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price objective on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.00.
View Our Latest Stock Report on RenaissanceRe
Shares of NYSE RNR opened at $264.71 on Friday. The business has a 50 day simple moving average of $268.59 and a 200 day simple moving average of $244.37. RenaissanceRe has a 52 week low of $188.24 and a 52 week high of $300.00. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.33 and a beta of 0.39. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.
In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe during the 2nd quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of RenaissanceRe during the 3rd quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at $31,000. UMB Bank n.a. lifted its stake in shares of RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 95 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of RenaissanceRe in the 3rd quarter worth $45,000. Institutional investors own 99.97% of the company's stock.
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.
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