In today’s recent session, 1.58 million shares of the RenaissanceRe Holdings Ltd. (NYSE:RNR) have been traded, and its beta is 0.45. Most recently the company’s share price was $193.00, and it changed around -$3.39 or -1.73% from the last close, which brings the market valuation of the company to $8.46B. RNR at last check was trading at a discount to its 52-week high of $223.80, offering almost -15.96% off that amount. The share price’s 52-week low was $124.18, which indicates that the recent value has risen by an impressive 35.66% since then. We note from RenaissanceRe Holdings Ltd.’s average daily trading volume that its 10-day average is 0.51 million shares, with the 3-month average coming to 340.79K.
RenaissanceRe Holdings Ltd. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended RNR as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. RenaissanceRe Holdings Ltd. is expected to report earnings per share of $8.06 for the current quarter.
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RenaissanceRe Holdings Ltd. (NYSE:RNR) trade information
Instantly RNR has been showing red trend so far today with a performance of -1.73% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 201.08 on Tuesday, 05/23/23 increased the stock’s daily price by 4.02%. The company’s shares are currently up 4.76% year-to-date, but still up 1.78% over the last five days. On the other hand, RenaissanceRe Holdings Ltd. (NYSE:RNR) is -7.55% up in the 30-day period. We can see from the shorts that 0.55 million shares have been sold at a short interest cover period of 2.21 day(s).
The consensus price target as assigned by Wall Street analysts is $249.17, which translates to bulls needing to increase their stock price by 22.54% from its current value. Analyst projections state that RNR is forecast to be at a low of $229.00 and a high of $267.00. In order for the stock price to hit the forecast high, the stock would need to plunge -38.34% from its current level, while the stock would need to crash -18.65% from its current level to reach the projected low.
RenaissanceRe Holdings Ltd. (RNR) estimates and forecasts
RenaissanceRe Holdings Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.21 percent over the past six months and at a 228.08% annual growth rate that is well above the industry average of 12.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 46.30% in revenue this quarter, and will report an increase of 128.70% in the next quarter. The year-over-year growth rate is expected to be 18.60%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.83 billion in revenue for the current quarter. 2 analysts expect RenaissanceRe Holdings Ltd. to make $1.99 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $866.97 million and $1.29 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 111.40%. Forecasts for the next quarter put sales growth at 54.60%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -37.50%. RenaissanceRe Holdings Ltd. earnings are expected to increase by 254.50% in 2023, but the outlook is positive 68.40% per year for the next five years.
RenaissanceRe Holdings Ltd.’s next quarterly earnings report is expected to be released around July 24 and July 28. The annual dividend yield of the stock is 0.77 percent and its annual dividend per share was 1.52. It is important to note, however, that the 0.77% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
RenaissanceRe Holdings Ltd. (NYSE:RNR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.92% of RenaissanceRe Holdings Ltd. shares, and 98.26% of them are in the hands of institutional investors. The stock currently has a share float of 100.19%. RenaissanceRe Holdings Ltd. stock is held by 505 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 10.54% of the shares, which is about 4.63 million shares worth $927.99 million.
Blackrock Inc., with 9.25% or 4.06 million shares worth $814.0 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 1.36 million shares worth $292.47 million, making up 3.11% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.33 million shares worth around $244.95 million, which represents about 3.04% of the total shares outstanding.