|Bid||25.49 x 1000|
|Ask||25.50 x 1400|
|Day's Range||25.41 - 25.50|
|52 Week Range||24.22 - 25.88|
|Beta (5Y Monthly)||0.46|
|PE Ratio (TTM)||1.66|
|Forward Dividend & Yield||1.34 (5.28%)|
|Ex-Dividend Date||Feb 25, 2021|
|1y Target Est||N/A|
RenaissanceRe (RNR) projects net negative impact of around $180 million on first-quarter 2021 results stemming from incidence of Winter Storm Uri.
Reinsurance and insurance products provider RenaissanceRe Holdings Ltd. sees losses due to Winter Storm Uri having a net negative impact of about $180 million on 1Q results. RenaissanceRe (RNR) President and Chief Executive Officer, Kevin J. O’Donnell said, “We extend our sympathies to all those affected by Winter Storm Uri. Consistent with our track record, we will support our customers in understanding and managing this U.S. winter storm while helping communities recover through rapid payment of claims.” O’Donnell added, “We are in a strong capital position heading into the mid-year renewals and anticipate additional opportunities to write attractive risk.” (See RenaissanceRe stock analysis on TipRanks) For 1Q, RenaissanceRe anticipates reporting a net loss attributable to common stockholders and nominal operating income available to them. Last month, Morgan Stanley analyst Michael Phillips reiterated a Hold rating on the stock and raised his price target to $195 (13.8% upside potential) from $194. Wells Fargo analyst Elyse Greenspan has a Buy rating on the stock but lowered the price target to $220 (28.4% upside potential) from $229. Greenspan thinks the stock will get a lower multiple from the market as the company’s growth is mostly attributable to casualty rather than catastrophe. The 2 ratings add up to a Moderate Buy consensus rating alongside an average analyst price target of $207.50 implying a 21.1% upside potential. Related News: SAP Posts Fastest Cloud Business Growth In Five Years During 1Q, Raises Outlook Public Storage Snaps Up ezStorage For $1.8B Gilead’s Bladder Cancer Drug Trodelvy Gets FDA Nod More recent articles from Smarter Analyst: United Rentals Snaps Up Franklin Equipment Russel Metals And Marubeni-Itochu Agree To Combine Canadian OCTG/Line Pipe Units Bentley Systems Snaps Up INRO Software Dell To Spin-Off 81% Stake In VMware; Shares Pop 8.5%
RenaissanceRe Holdings Ltd. (NYSE: RNR) (the "Company" or "RenaissanceRe") today announced it estimates that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the Company’s first quarter 2021 results of operations. Winter Storm Uri was a major wind and ice storm that impacted the U.S. in February 2021, causing widespread damage in many areas, including Texas. For the first quarter of 2021, the Company expects to report a net loss attributable to common shareholders and nominal operating income available to common shareholders.