Balentine LLC acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) during the third quarter, HoldingsChannel reports. The fund acquired 1,516 shares of the insurance provider’s stock, valued at approximately $213,000.
A number of other institutional investors have also recently bought and sold shares of RNR. Fulton Bank N.A. boosted its position in shares of RenaissanceRe by 43.7% in the 3rd quarter. Fulton Bank N.A. now owns 2,133 shares of the insurance provider’s stock worth $299,000 after purchasing an additional 649 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter valued at about $538,000. Wedge Capital Management L L P NC raised its position in shares of RenaissanceRe by 15.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,199 shares of the insurance provider’s stock valued at $309,000 after acquiring an additional 302 shares during the period. Atlas Capital Advisors LLC bought a new position in RenaissanceRe during the 2nd quarter worth approximately $364,000. Finally, Gladstone Capital Management LLP grew its holdings in RenaissanceRe by 18.0% during the first quarter. Gladstone Capital Management LLP now owns 991,194 shares of the insurance provider’s stock valued at $157,114,000 after purchasing an additional 151,079 shares during the period. Institutional investors and hedge funds own 95.52% of the company’s stock.
Insider Transactions at RenaissanceRe
In other news, SVP Sean G. Brosnan sold 850 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $187.74, for a total value of $159,579.00. Following the sale, the senior vice president now owns 19,038 shares of the company’s stock, valued at $3,574,194.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.
Wall Street Analysts Forecast Growth
RenaissanceRe Stock Up 3.5 %
Shares of NYSE:RNR opened at $192.83 on Monday. RenaissanceRe Holdings Ltd. has a 12 month low of $124.18 and a 12 month high of $193.77. The company’s fifty day simple moving average is $182.40 and its 200 day simple moving average is $155.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.24.
RenaissanceRe (NYSE:RNR – Get Rating) last released its earnings results on Tuesday, November 1st. The insurance provider reported ($9.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($7.42) by ($1.85). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.70 billion. RenaissanceRe had a positive return on equity of 4.76% and a negative net margin of 29.35%. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 4.71 earnings per share for the current fiscal year.
RenaissanceRe Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, December 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently -4.74%.
RenaissanceRe Company Profile
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.
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