RenaissanceRe Holdings Azioni (NYSE: RNR)

Ultime notizie per RenaissanceRe Holdings (NYSE:RNR) Azioni

RenaissanceRe Holdings

RenaissanceRe Holdings Ltd provides reinsurance and insurance solutions and related services. The company's core products include property, casualty and specialty reinsurance. Revenue is derived from three sources: net premiums earned from the insurance and insurance products sold; net investment income from the investment of capital funds and cash; and other income from the company's joint ventures, advisory services, and other items. The reportable segments of the company are the Property segment which includes catastrophe and other property reinsurance, and the Casualty and Specialty segment which is comprised of casualty and specialty reinsurance. It derives a majority of its revenue from the Casualty and specialty segment.

RenaissanceRe Holdings Ltd

GLB RENEWENPROD ETF

Global X Renewable Energy Producers ETF

Reunert Ltd

RenaissanceRe Holdings Ltd. Depositary Shares, each Representing a 1/1,000th Interest in a 5.750% Series F Preference Share

RenaissanceRe Holdings Ltd. Depositary Shares, each representing a 1/1,000th interest in a share of 4.20% Series G Preference Shares

<p>RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) is preparing to release its quarterly earnings on Wednesday, 2024-11-06. Here's a brief overview of what investors should keep in mind before the announcement.</p>
<p>Analysts expect RenaissanceRe Holdings to report an <strong>earnings per share</strong> (EPS) of $7.75.</p>
<p>The announcement from RenaissanceRe Holdings is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.</p>
<p>It's worth noting for new investors that guidance can be a key determinant of stock price movements.</p>
<h3>Past Earnings Performance</h3>
<p>The company's EPS beat by $1.77 in the last quarter, leading to a 2.27% drop in the share price on the following day.</p>
<p>Here's a look at RenaissanceRe Holdings's past performance and the resulting price change:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2024</strong></th>
<th><strong>Q1 2024</strong></th>
<th><strong>Q4 2023</strong></th>
<th><strong>Q3 2023</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>10.64</td>
<td>9.41</td>
<td>8.10</td>
<td>6.04</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>12.41</td>
<td>12.18</td>
<td>11.77</td>
<td>8.33</td>
</tr>
<tr>
<td><strong>Price Change %</strong></td>
<td>-2.0%</td>
<td>-0.0%</td>
<td>6.0%</td>
<td>-8.0%</td>
</tr>
</tbody>
</table>
</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1730815288_0.png" alt="eps graph" /></p>
<h3>RenaissanceRe Holdings Share Price Analysis</h3>
<p>Shares of RenaissanceRe Holdings were trading at $266.49 as of November 04. Over the last 52-week period, shares are up 29.48%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. </p>
<p><a href="https://www.benzinga.com/quote/RNR/earnings"><strong>To track all earnings releases for RenaissanceRe Holdings visit their earnings calendar on our site.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Earnings

A Preview Of RenaissanceRe Holdings's Earnings

<p>JP Morgan  analyst Jimmy Bhullar   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Neutral and raises the price target from $267 to $274.</p>


News

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on RenaissanceRe Holdings, Raises Price Target to $274

<p>B of A Securities  analyst Joshua Shanker   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Buy and raises the price target from $364 to $391.</p>


B of A Securities Maintains Buy on RenaissanceRe Holdings, Raises Price Target to $391

<p>Wells Fargo  analyst Elyse Greenspan   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Overweight and raises the price target from $280 to $314.</p>


Wells Fargo Maintains Overweight on RenaissanceRe Holdings, Raises Price Target to $314

WIIM

RenaissanceRe Holdings shares are trading higher after Evercore ISI Group raised its price target on the stock from $218 to $229.

<p>5 analysts have shared their evaluations of RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.</p>
<p>The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Insights from analysts' 12-month price targets are revealed, presenting an average target of $272.2, a high estimate of $298.00, and a low estimate of $229.00. This upward trend is evident, with the current average reflecting a 5.4% increase from the previous average price target of $258.25.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728482426_0.png" alt="price target chart" /></p>
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
<p>A clear picture of RenaissanceRe Holdings's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Motemaden</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Underperform</td>
<td>$229.00</td>
<td>$218.00</td>
</tr>
<tr>
<td>Michael Ward</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$298.00</td>
<td>$262.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$287.00</td>
<td>-</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$288.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$267.00</td>
<td>$265.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to RenaissanceRe Holdings. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of RenaissanceRe Holdings compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts predict movements in price targets, offering estimates for RenaissanceRe Holdings's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
<p>Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of RenaissanceRe Holdings's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/RNR/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on RenaissanceRe Holdings analyst ratings.</strong></a></p>
<h2>Delving into RenaissanceRe Holdings's Background</h2>
<p>RenaissanceRe Holdings Ltd provides reinsurance and insurance solutions and related services. The company's core products include property, casualty and specialty reinsurance. Revenue is derived from three sources: net premiums earned from the insurance and insurance products sold; net investment income from the investment of capital funds and cash; and other income from the company's joint ventures, advisory services, and other items. The reportable segments of the company are the Property segment which includes catastrophe and other property reinsurance, and the Casualty and Specialty segment which is comprised of casualty and specialty reinsurance. It derives a majority of its revenue from the Casualty and specialty segment.</p>
<h3>RenaissanceRe Holdings: Financial Performance Dissected</h3>
<p><strong>Market Capitalization Analysis:</strong> With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.</p>
<p><strong>Revenue Growth:</strong> RenaissanceRe Holdings's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately <strong>52.58%</strong>. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.</p>
<p><strong>Net Margin:</strong> RenaissanceRe Holdings's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>17.32%</strong> net margin, the company effectively manages costs and achieves strong profitability.</p>
<p><strong>Return on Equity (ROE):</strong> RenaissanceRe Holdings's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>5.28%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> RenaissanceRe Holdings's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of <strong>0.95%,</strong> the company showcases efficient use of assets and strong financial health.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>0.21</strong>.</p>
<h2>How Are Analyst Ratings Determined?</h2>
<p>Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. </p>
<p>Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.</p>
<p><strong>Which Stocks Are Analysts Recommending Now?</strong></p>
<p>Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights"><strong>Click here to stay ahead of the market</strong></a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


5 Analysts Assess RenaissanceRe Holdings: What You Need To Know

<p>Evercore ISI Group  analyst David Motemaden   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Underperform and raises the price target from $218 to $229.</p>


Evercore ISI Group Maintains Underperform on RenaissanceRe Holdings, Raises Price Target to $229

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ACIC

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ERIE

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Shares of insurance companies are trading lower while Floridians experience evacuation orders as Category 5 Hurricane Milton approaches the state. The region is still recovering from damage due to Hurricane Helene.

<p>8 analysts have expressed a variety of opinions on RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.</p>
<p>The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $279.0, a high estimate of $347.00, and a low estimate of $240.00. This current average reflects an increase of 2.68% from the previous average price target of $271.71. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1725987629_0.png" alt="price target chart" /></p>
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
<p>The perception of RenaissanceRe Holdings by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Ward</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$298.00</td>
<td>$262.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$287.00</td>
<td>-</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$288.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$267.00</td>
<td>$265.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$347.00</td>
<td>$334.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$265.00</td>
<td>$245.00</td>
</tr>
<tr>
<td>Michael Phillips</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$240.00</td>
<td>$257.00</td>
</tr>
<tr>
<td>Brian Meredith</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$248.00</td>
<td>$251.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to RenaissanceRe Holdings. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of RenaissanceRe Holdings compared to the broader market.</li>
<li><strong>Price Targets:</strong> Understanding forecasts, analysts offer estimates for RenaissanceRe Holdings's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
<p>To gain a panoramic view of RenaissanceRe Holdings's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/RNR/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on RenaissanceRe Holdings analyst ratings.</strong></a></p>
<h2>Discovering RenaissanceRe Holdings: A Closer Look</h2>
<p>RenaissanceRe Holdings Ltd provides reinsurance and insurance solutions and related services. The company's core products include property, casualty and specialty reinsurance. Revenue is derived from three sources: net premiums earned from the insurance and insurance products sold; net investment income from the investment of capital funds and cash; and other income from the company's joint ventures, advisory services, and other items. The reportable segments of the company are the Property segment which includes catastrophe and other property reinsurance, and the Casualty and Specialty segment which is comprised of casualty and specialty reinsurance. It derives a majority of its revenue from the Casualty and specialty segment.</p>
<h3>RenaissanceRe Holdings: Financial Performance Dissected</h3>
<p><strong>Market Capitalization Analysis:</strong> With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.</p>
<p><strong>Revenue Growth:</strong> Over the 3 months period, RenaissanceRe Holdings showcased positive performance, achieving a revenue growth rate of <strong>52.58%</strong> as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.</p>
<p><strong>Net Margin:</strong> RenaissanceRe Holdings's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of <strong>17.32%,</strong> the company showcases strong profitability and effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> RenaissanceRe Holdings's ROE excels beyond industry benchmarks, reaching <strong>5.28%</strong>. This signifies robust financial management and efficient use of shareholder equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> RenaissanceRe Holdings's ROA stands out, surpassing industry averages. With an impressive ROA of <strong>0.95%</strong>, the company demonstrates effective utilization of assets and strong financial performance.</p>
<p><strong>Debt Management:</strong> RenaissanceRe Holdings's debt-to-equity ratio is below the industry average at <strong>0.21</strong>, reflecting a lower dependency on debt financing and a more conservative financial approach.</p>
<h2>What Are Analyst Ratings?</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Peeling Back The Layers: Exploring RenaissanceRe Holdings Through Analyst Insights

<p>Citigroup  analyst Michael Ward   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Buy and raises the price target from $262 to $298.</p>


Citigroup Maintains Buy on RenaissanceRe Holdings, Raises Price Target to $298

<p>Barclays  analyst Alex Scott   initiates coverage on RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Equal-Weight rating and announces Price Target of $287.</p>


Initiation

Barclays Initiates Coverage On RenaissanceRe Holdings with Equal-Weight Rating, Announces Price Target of $287

Brighthouse Financial, Inc. - Common Stock

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Shares of insurance companies are trading lower amid overall weakness following concerns for recently issued US economic data.

Buybacks

RenaissanceRe Announces Quarterly Dividend Of $0.39 Per Share, Payable September 30, 2024, To Shareholders Of Record On September 13, 2024; Board Approves Renewal Of $500M Share Repurchase Program

<p>Wells Fargo  analyst Elyse Greenspan   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Overweight and lowers the price target from $288 to $280.</p>


Wells Fargo Maintains Overweight on RenaissanceRe Holdings, Lowers Price Target to $280

<p>JP Morgan  analyst Jimmy Bhullar   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Neutral and raises the price target from $265 to $267.</p>


JP Morgan Maintains Neutral on RenaissanceRe Holdings, Raises Price Target to $267

<p>RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) reported quarterly sales of $2.83 billion which missed the analyst consensus estimate of $2.94 billion by 3.86 percent.  This is a 52.63 percent increase over sales of $1.85 billion the same period last year.</p>


Earnings Misses

RenaissanceRe Holdings Q2 Sales $2.83B Miss $2.94B Estimate

<p>JP Morgan  analyst Jimmy Bhullar   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Neutral and raises the price target from $245 to $265.</p>


JP Morgan Maintains Neutral on RenaissanceRe Holdings, Raises Price Target to $265

<p>Morgan Stanley  analyst Michael Phillips   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Equal-Weight and lowers the price target from $257 to $240.</p>


Morgan Stanley Maintains Equal-Weight on RenaissanceRe Holdings, Lowers Price Target to $240

<p>UBS  analyst Brian Meredith   maintains RenaissanceRe Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Neutral and lowers the price target from $251 to $248.</p>


UBS Maintains Neutral on RenaissanceRe Holdings, Lowers Price Target to $248

<p><strong>W.R. Berkley Corporation</strong>&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wrb#NYSE">WRB</a>) board of directors approved a special cash dividend of 50 cents per share. Concurrently, the board also approved a 9.1% hike in annual cash dividend to 48 cents. Shareholders, as of the close of business on Jun 24, 2024, will receive the quarterly dividend on Jun 28, 2024.<br />
The recent dividend hike is the 19th straight increase by the insurer. It also pays special dividends. Notably, WRB has continually paid dividends for nearly five decades.<br />
W.R. Berkley, banking on operational strength, has a solid balance sheet with sufficient liquidity and strong cash flows. A strong capital position enables the nation&#39;s largest commercial lines property casualty insurance provider to distribute wealth to shareholders via share repurchases, special dividends and dividend hikes.<br />
Apart from dividends, the company resorts to regular share buybacks as another way to enhance shareholder value.<br />
Improved pricing, expansion of international business, reserve discipline, a solid balance sheet and a prudent capital management policy should help WRB maintain its streak of dividend hikes and special dividends. The company targets a return on equity of 15% over the long term.<br />
Additionally, the board of directors has also approved a 3-for-2 stock split in the form of a stock dividend to shareholders of record as of Jun 24, 2024. The split will take effect on Jul 10.<br />
Shares of WRB have gained 10.5% year to date, compared with the industry&#39;s 14.2% increase. Its solid insurance business, strong international business and a sturdy financial position should help drive shares.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/57/68790.jpg?v=1465104723" /><br />
Image Source: Zacks Investment Research</p>
<p>WRB currently carries a Zacks Rank #5 (Strong Sell).</p>
<h3>Other Shareholder-Friendly Moves in the Insurance Space</h3>
<p>The board of directors of <strong>Radian Group </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rdn#NYSE">RDN</a>) authorized a share buyback program to return more value to investors. With the latest authorization, the board increased the authorization by $600 million to $900 million. The program remains active through Jun 30, 2026.<br />
Improving mortgage insurance portfolio, declining claims, a well-performing homogenous segment and a solid capital position should help the insurer deliver impressive results. This, in turn, should poise the company well with sufficient liquidity and aid in boosting shareholders&#39; value.<br />
Recently, the board of directors of <strong>AXIS Capital Holdings Limited </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axs#NYSE">AXS</a>) authorized a share buyback program to return more value to investors. The latest authorization will allow the company to spend up to $300 million to repurchase its common stock.<br />
Intensified focus on specialty lines, continuous investment in growth areas, including wholesale insurance and lower middle markets, exit from the volatile catastrophe and property reinsurance space and reduction of risk exposure while concentrating on accident and health, casualty, credit and surety, and specialty reinsurance lines should help the insurer deliver impressive results. This, in turn, should poise the company well with sufficient liquidity and aid in boosting shareholders&#39; value.<br />
The board of <strong>RenaissanceRe </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rnr#NYSE">RNR</a>) approved a renewal of the authorized share repurchase program, bringing the total current authorization to $500 million. RenaissanceRe boosts shareholder value by banking on its ability to generate free cash flow. In February 2024, the company&#39;s board of directors approved a 2.6% hike in the quarterly dividend. The increased dividend marked the 29th straight year of a dividend hike. Its dividend yield of 0.7% remains higher than the industry average of 0.3%.<br />
Improving premiums in specialty lines given market dislocation and rate increases, higher demand for reinsurance in Florida, and the acquisition of Validus Re, AlphaCat and the Talbot Treaty reinsurance business from AIG enhance the scale of its global property and casualty reinsurance business. These also boost profitability and thus aid in enhancing shareholders&#39; value.</p>
<p><a href="https://www.zacks.com/stock/news/2287963/w-r-berkley-wrb-boosts-shareholders-value-via-several-moves?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2287963">To read this article on Zacks.com click here.</a></p>


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Press Releases

RenaissanceRe Reports $1.6 Billion of Quarterly Net Income Available to Common Shareholders and $623.1 Million of Quarterly Operating Income Available to Common Shareholders in Q4 2023.

RenaissanceRe Holdings Ltd. Announces Twenty-Ninth Consecutive Annual Increase in Quarterly Dividend

RenaissanceRe Schedules First Quarter 2024 Financial Results Conference Call

RenaissanceRe Reports $364.8 Million of Net Income Available to Common Shareholders and $636.4 Million of Operating Income Available to Common Shareholders in Q1 2024.

RenaissanceRe Holdings Ltd. Announces Quarterly Dividend and Renewal of Share Repurchase Program

RenaissanceRe Schedules Second Quarter 2024 Financial Results Conference Call

RenaissanceRe Reports $495.0 Million of Net Income Available to Common Shareholders and $650.8 Million of Operating Income Available to Common Shareholders in Q2 2024.

AM Best Affirms Credit Ratings of RenaissanceRe Holdings Ltd. and Its Main Subsidiaries

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