Zacks Research Lowers Earnings Estimates for RenaissanceRe

RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) - Research analysts at Zacks Research dropped their Q2 2027 earnings per share (EPS) estimates for shares of RenaissanceRe in a research note issued to investors on Monday, November 10th. Zacks Research analyst Team now expects that the insurance provider will post earnings per share of $12.46 for the quarter, down from their prior forecast of $12.95. The consensus estimate for RenaissanceRe's current full-year earnings is $26.04 per share.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating analysts' consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company posted $10.23 earnings per share. The firm's quarterly revenue was down 4.8% compared to the same quarter last year.

Several other analysts have also recently commented on RNR. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their target price on RenaissanceRe from $278.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 30th. Cantor Fitzgerald upgraded RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Barclays set a $278.00 price objective on RenaissanceRe in a research report on Wednesday, October 8th. Finally, Wolfe Research initiated coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They set a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $283.67.

Read Our Latest Report on RNR

RenaissanceRe Stock Down 0.8%

Shares of NYSE:RNR opened at $267.41 on Tuesday. RenaissanceRe has a 12 month low of $219.00 and a 12 month high of $290.78. The company's 50-day moving average price is $251.00 and its two-hundred day moving average price is $245.68. 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 $12.33 billion, a P/E ratio of 7.43, a P/E/G ratio of 2.08 and a beta of 0.25.

RenaissanceRe Announces Dividend

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

Hedge Funds Weigh In On RenaissanceRe

Several institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in RenaissanceRe by 1.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider's stock valued at $852,000 after purchasing an additional 40 shares in the last quarter. AMG National Trust Bank raised its holdings in shares of RenaissanceRe by 0.7% in the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider's stock worth $1,469,000 after acquiring an additional 40 shares during the last quarter. Advisors Asset Management Inc. lifted its position in RenaissanceRe by 10.5% in the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider's stock valued at $106,000 after acquiring an additional 42 shares in the last quarter. Benedict Financial Advisors Inc. boosted its stake in RenaissanceRe by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider's stock valued at $3,055,000 after purchasing an additional 42 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in RenaissanceRe by 3.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider's stock worth $319,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

About RenaissanceRe

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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