| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 4/6 |
| Past Performance | 0/6 |
| Financial Health | 5/6 |
| Dividends | 3/6 |
RNR Stock Overview
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally.
Rewards
Analysts in good agreement that stock price will rise by 22.5%
Risk Analysis
No risks detected for RNR from our risk checks.
RenaissanceRe Holdings Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$140.39 |
| 52 Week High | US$174.55 |
| 52 Week Low | US$124.18 |
| Beta | 0.38 |
| 1 Month Change | 1.90% |
| 3 Month Change | -10.62% |
| 1 Year Change | 0.60% |
| 3 Year Change | -27.70% |
| 5 Year Change | 1.94% |
| Change since IPO | 1,858.93% |
Recent News & Updates
RenaissanceRe declares $0.37 dividend; renews stock buyback plan
RenaissanceRe (NYSE:RNR) declares $0.37/share quarterly dividend, in line with previous. Forward yield 1.19% Payable Sept. 30; for shareholders of record Sept. 15; ex-div Sept. 14. See RNR Dividend Scorecard, Yield Chart, & Dividend Growth. In addition, the Board of Directors approved a renewal of RenaissanceRe's authorized share repurchase program, bringing the total current authorization up to $500M, which includes the remaining amounts under prior authorizations. The program will expire when the Company has repurchased the full value of the shares authorized, unless terminated earlier by the Board of Directors.
RenaissanceRe Q2 2022 Earnings Preview
RenaissanceRe (NYSE:RNR) is scheduled to announce Q2 earnings results on Monday, July 25th, after market close. The consensus EPS Estimate is $5.10 (-9.6% Y/Y) and the consensus Revenue Estimate is $1.73B (+16.9% Y/Y). Over the last 2 years, RNR has beaten EPS estimates 38% of the time and has beaten revenue estimates 63% of the time. Over the last 3 months, EPS estimates have seen 2 upward revisions and 5 downward. Revenue estimates have seen 1 upward revision and 1 downward.
Shareholder Returns
| RNR | US Insurance | US Market | |
|---|---|---|---|
| 7D | 1.9% | -1.1% | -2.5% |
| 1Y | 0.6% | -3.8% | -23.2% |
Return vs Industry: RNR exceeded the US Insurance industry which returned -3.8% over the past year.
Return vs Market: RNR exceeded the US Market which returned -23.2% over the past year.
Price Volatility
| RNR volatility | |
|---|---|
| RNR Average Weekly Movement | 4.6% |
| Insurance Industry Average Movement | 4.5% |
| Market Average Movement | 6.8% |
| 10% most volatile stocks in US Market | 15.5% |
| 10% least volatile stocks in US Market | 2.8% |
Stable Share Price: RNR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: RNR's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1993 | 649 | Kevin O'Donnell | https://www.renre.com |
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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. multi-line reinsurance.
RenaissanceRe Holdings Fundamentals Summary
| RNR fundamental statistics | |
|---|---|
| Market Cap | US$6.14b |
| Earnings (TTM) | -US$958.00m |
| Revenue (TTM) | US$4.77b |
1.3x
P/S Ratio-6.4x
P/E RatioIs RNR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| RNR income statement (TTM) | |
|---|---|
| Revenue | US$4.77b |
| Cost of Revenue | US$5.44b |
| Gross Profit | -US$664.80m |
| Other Expenses | US$293.20m |
| Earnings | -US$958.00m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -21.92 |
| Gross Margin | -13.93% |
| Net Profit Margin | -20.08% |
| Debt/Equity Ratio | 11.6% |
How did RNR perform over the long term?
See historical performance and comparisonDividends
1.1%
Current Dividend Yield-7%
Payout RatioValuation
Is RNR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for RNR?
Other financial metrics that can be useful for relative valuation.
| What is RNR's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$6.14b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 2.3x |
| Enterprise Value/EBITDA | -11.9x |
| PEG Ratio | n/a |
Price to Book Ratio vs Peers
How does RNR's PB Ratio compare to its peers?
| RNR PB Ratio vs Peers |
|---|
| Company | PB | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 1.4x | ||
RGA Reinsurance Group of America | 1.4x | 20.0% | US$8.4b |
RE Everest Re Group | 1.2x | 34.7% | US$10.3b |
Y Alleghany | 1.4x | 50.2% | US$11.3b |
BAMR Brookfield Asset Management Reinsurance Partners | 1.4x | n/a | US$1.9b |
RNR RenaissanceRe Holdings | 1.2x | 96.3% | US$6.1b |
Price-To-Book vs Peers: RNR is good value based on its Price-To-Book Ratio (1.2x) compared to the peer average (1.4x).
Price to Earnings Ratio vs Industry
How does RNR's PE Ratio compare vs other companies in the US Insurance Industry?
Price-To-Book vs Industry: RNR is expensive based on its Price-To-Book Ratio (1.2x) compared to the US Insurance industry average (1x)
Price to Book Ratio vs Fair Ratio
What is RNR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PB Ratio | 1.2x |
| Fair PB Ratio | n/a |
Price-To-Book vs Fair Ratio: Insufficient data to calculate RNR's Price-To-Book Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of RNR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: RNR ($140.39) is trading below our estimate of fair value ($433.47)
Significantly Below Fair Value: RNR is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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Future Growth
How is RenaissanceRe Holdings forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Future Growth Score
4/6Future Growth Score 4/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
96.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RNR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: RNR is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: RNR is expected to become profitable in the next 3 years.
Revenue vs Market: RNR's revenue (12.3% per year) is forecast to grow faster than the US market (7.7% per year).
High Growth Revenue: RNR's revenue (12.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RNR's Return on Equity is forecast to be low in 3 years time (16.3%).
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Past Performance
How has RenaissanceRe Holdings performed over the past 5 years?
Past Performance Score
0/6Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-5.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RNR is currently unprofitable.
Growing Profit Margin: RNR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: RNR is unprofitable, and losses have increased over the past 5 years at a rate of 5.4% per year.
Accelerating Growth: Unable to compare RNR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: RNR is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (-22.8%).
Return on Equity
High ROE: RNR has a negative Return on Equity (-10.06%), as it is currently unprofitable.
Discover strong past performing companies
Financial Health
How is RenaissanceRe Holdings's financial position?
Financial Health Score
5/6Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: RNR's short term assets ($31.0B) exceed its short term liabilities ($23.5B).
Long Term Liabilities: RNR's short term assets ($31.0B) exceed its long term liabilities ($1.4B).
Debt to Equity History and Analysis
Debt Level: RNR has more cash than its total debt.
Reducing Debt: RNR's debt to equity ratio has reduced from 16% to 11.6% over the past 5 years.
Debt Coverage: RNR's debt is well covered by operating cash flow (99.6%).
Interest Coverage: Insufficient data to determine if RNR's interest payments on its debt are well covered by EBIT.
Balance Sheet
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Dividend
What is RenaissanceRe Holdings's current dividend yield, its reliability and sustainability?
Dividend Score
3/6Dividend Score 3/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
1.05%
Current Dividend Yield
Dividend Yield vs Market
| RenaissanceRe Holdings Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (RenaissanceRe Holdings) | 1.1% |
| Market Bottom 25% (US) | 1.7% |
| Market Top 25% (US) | 4.7% |
| Industry Average (Insurance) | 2.5% |
| Analyst forecast in 3 Years (RenaissanceRe Holdings) | 1.1% |
Notable Dividend: RNR's dividend (1.05%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: RNR's dividend (1.05%) is low compared to the top 25% of dividend payers in the US market (4.73%).
Stability and Growth of Payments
Stable Dividend: RNR's dividends per share have been stable in the past 10 years.
Growing Dividend: RNR's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: RNR is paying a dividend but the company is unprofitable.
Cash Payout to Shareholders
Cash Flow Coverage: With its low cash payout ratio (5.5%), RNR's dividend payments are thoroughly covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
6.2yrs
Average management tenure
CEO
Kevin O'Donnell (55 yo)
9.25yrs
Tenure
US$8,868,902
Compensation
Mr. Kevin Joseph O’Donnell has been the Chief Executive Officer and President at RenaissanceRe Holdings Ltd. and Renaissance Reinsurance U.S. Inc. since July 1, 2013 and November 13, 2012 respectively.Mr....
CEO Compensation Analysis
| Kevin O'Donnell's Compensation vs RenaissanceRe Holdings Earnings |
|---|
| Date | Total Comp. | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2022 | n/a | n/a | -US$958m |
| Mar 31 2022 | n/a | n/a | -US$178m |
| Dec 31 2021 | US$9m | US$1m | -US$74m |
| Sep 30 2021 | n/a | n/a | -US$99m |
| Jun 30 2021 | n/a | n/a | US$399m |
| Mar 31 2021 | n/a | n/a | US$516m |
| Dec 31 2020 | US$10m | US$1m | US$723m |
| Sep 30 2020 | n/a | n/a | US$568m |
| Jun 30 2020 | n/a | n/a | US$557m |
| Mar 31 2020 | n/a | n/a | US$352m |
| Dec 31 2019 | US$11m | US$1m | US$703m |
| Sep 30 2019 | n/a | n/a | US$587m |
| Jun 30 2019 | n/a | n/a | US$583m |
| Mar 31 2019 | n/a | n/a | US$410m |
| Dec 31 2018 | US$11m | US$1m | US$195m |
| Sep 30 2018 | n/a | n/a | US$275m |
| Jun 30 2018 | n/a | n/a | -US$263m |
| Mar 31 2018 | n/a | n/a | -US$281m |
| Dec 31 2017 | US$8m | US$1m | -US$245m |
| Sep 30 2017 | n/a | n/a | -US$173m |
| Jun 30 2017 | n/a | n/a | US$477m |
| Mar 31 2017 | n/a | n/a | US$440m |
| Dec 31 2016 | US$8m | US$1m | US$475m |
| Sep 30 2016 | n/a | n/a | US$497m |
| Jun 30 2016 | n/a | n/a | US$427m |
| Mar 31 2016 | n/a | n/a | US$365m |
| Dec 31 2015 | US$8m | US$975k | US$404m |
Compensation vs Market: Kevin's total compensation ($USD8.87M) is about average for companies of similar size in the US market ($USD8.66M).
Compensation vs Earnings: Kevin's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: RNR's management team is seasoned and experienced (6.2 years average tenure).
Board Members
Experienced Board: RNR's board of directors are considered experienced (9.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: RNR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Date | Value | Name | Entity | Role | Shares | Max Price |
|---|---|---|---|---|---|---|
| 10 Aug 22 | BuyUS$979,650 | Brian G. Gray | Individual | 7,500 | US$130.62 | |
| 20 May 22 | SellUS$89,047 | David Bushnell | Individual | 600 | US$148.41 | |
| 05 Nov 21 | SellUS$201,136 | Henry Klehm | Individual | 1,300 | US$154.72 | |
| 29 Oct 21 | BuyUS$2,162,150 | Kevin O'Donnell | Individual | 15,000 | US$145.78 | |
| 29 Oct 21 | BuyUS$217,776 | James Fraser | Individual | 1,500 | US$145.86 | |
| 29 Oct 21 | BuyUS$994,588 | Ross Curtis | Individual | 6,900 | US$145.78 | |
| 29 Oct 21 | BuyUS$495,113 | Ian Branagan | Individual | 3,440 | US$145.54 | |
| 29 Oct 21 | BuyUS$490,087 | Robert Qutub | Individual | 3,400 | US$145.78 |
Ownership Breakdown
| Owner Type | Number of Shares | Ownership Percentage |
|---|---|---|
| State or Government | 19,461 | 0.04% |
| Individual Insiders | 658,368 | 1.5% |
| Institutions | 43,053,443 | 98.5% |
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
| Ownership | Name | Shares | Current Value | Change % | Portfolio % | |
|---|---|---|---|---|---|---|
| 4,506,610 | $632.7m | 1.33% | 0.02% | |||
| 3,990,937 | $560.3m | 2.97% | 0.01% | |||
| 3,335,157 | $468.2m | 6.62% | 0.06% | |||
| 2,571,078 | $361.0m | -0.04% | 0.03% | |||
| 2,426,536 | $340.7m | 6.18% | 0.02% | |||
| 2,399,303 | $336.8m | 0% | 0.4% | |||
| 1,664,014 | $233.6m | 37.14% | 0.13% | |||
| 1,008,512 | $141.6m | 1.75% | 14.75% | |||
| 960,599 | $134.9m | 0.47% | 0.03% | |||
| 894,458 | $125.6m | -2.85% | 0.03% | |||
| 842,528 | $118.3m | 0% | 0.67% | |||
| 839,281 | $117.8m | 0% | 7.4% | |||
| 779,422 | $109.4m | -3.87% | 1.18% | |||
| 737,200 | $103.5m | -16.53% | 1.33% | |||
| 720,509 | $101.2m | -2.52% | 0.09% | |||
| 706,546 | $99.2m | -24.78% | 1.85% | |||
| 617,445 | $86.7m | 4.57% | 4.3% | |||
| 590,845 | $82.9m | -0.26% | 0.01% | |||
| 587,285 | $82.4m | -13.56% | 0.02% | |||
| 561,597 | $78.8m | -1.34% | 0.01% | |||
| 539,001 | $75.7m | 25.35% | 0.07% | |||
| 500,286 | $70.2m | -1.48% | 0.02% | |||
| 472,251 | $66.3m | -1.31% | 4.87% | |||
| 459,627 | $64.5m | -1.32% | 1.39% | |||
| 430,713 | $60.5m | 0% | 0.01% |
Company Information
RenaissanceRe Holdings Ltd.'s employee growth, exchange listings and data sources
Key Information
- Name: RenaissanceRe Holdings Ltd.
- Ticker: RNR
- Exchange: NYSE
- Founded: 1993
- Industry: Reinsurance
- Sector: Insurance
- Implied Market Cap: US$6.136b
- Shares outstanding: 43.71m
- Website: https://www.renre.com
Number of Employees
Location
- RenaissanceRe Holdings Ltd.
- Renaissance House
- 12 Crow Lane
- Pembroke
- HM 19
- Bermuda
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RNR | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jul 1995 |
| RRJ | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 1995 |
| RNR.PRF | NYSE (New York Stock Exchange) | DPSHS RP PFD F | US | USD | Jun 2018 | |
| RNR.PRG | NYSE (New York Stock Exchange) | 4.20% DEP PFD G | US | USD | Jul 2021 |
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/10/02 00:00 |
| End of Day Share Price | 2022/09/30 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.