Q2 2024 EPS Estimates for RenaissanceRe Holdings Ltd. (NYSE:RNR) Lifted by Zacks Research

RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) – Research analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of RenaissanceRe in a note issued to investors on Monday, May 13th. Zacks Research analyst K. Dey now anticipates that the insurance provider will earn $10.89 per share for the quarter, up from their previous forecast of $10.77. The consensus estimate for RenaissanceRe’s current full-year earnings is $36.42 per share. Zacks Research also issued estimates for RenaissanceRe’s Q4 2024 earnings at $8.26 EPS, Q1 2025 earnings at $10.37 EPS and Q3 2025 earnings at $4.51 EPS.

RenaissanceRe (NYSE:RNRGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm earned $8.16 EPS. The business’s revenue was up 41.3% on a year-over-year basis.

A number of other analysts have also issued reports on RNR. UBS Group boosted their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Evercore ISI raised their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. BMO Capital Markets upped their price objective on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $249.00.

View Our Latest Research Report on RNR

RenaissanceRe Trading Down 0.2 %

RNR opened at $223.15 on Tuesday. RenaissanceRe has a 52 week low of $174.22 and a 52 week high of $239.42. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $226.36 and a 200-day simple moving average of $216.74. The firm has a market cap of $11.80 billion, a P/E ratio of 4.93, a P/E/G ratio of 1.96 and a beta of 0.31.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.70%. RenaissanceRe’s dividend payout ratio is currently 3.45%.

Hedge Funds Weigh In On RenaissanceRe

Large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in shares of RenaissanceRe during the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in shares of RenaissanceRe in the 1st quarter valued at approximately $31,000. Mather Group LLC. acquired a new position in shares of RenaissanceRe in the first quarter valued at approximately $34,000. GAMMA Investing LLC acquired a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for RenaissanceRe (NYSE:RNR)

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