Great West Life Assurance Co. Can Buys New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Great West Life Assurance Co. Can bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) during the third quarter, HoldingsChannel reports. The institutional investor bought 28,936 shares of the insurance provider’s stock, valued at approximately $4,063,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in RenaissanceRe by 6.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,335,157 shares of the insurance provider’s stock valued at $521,519,000 after buying an additional 207,214 shares in the last quarter. Capital World Investors lifted its stake in shares of RenaissanceRe by 5.4% during the 1st quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after purchasing an additional 129,891 shares during the period. State Street Corp lifted its stake in shares of RenaissanceRe by 6.2% during the 2nd quarter. State Street Corp now owns 2,426,536 shares of the insurance provider’s stock worth $379,437,000 after purchasing an additional 141,315 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of RenaissanceRe by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,038,205 shares of the insurance provider’s stock worth $162,344,000 after purchasing an additional 7,462 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 679,383 shares of the insurance provider’s stock worth $107,689,000 after purchasing an additional 15,215 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Insider Activity at RenaissanceRe

In related news, SVP Sean G. Brosnan sold 850 shares of the stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $187.74, for a total value of $159,579.00. Following the completion of the sale, the senior vice president now directly owns 19,038 shares in the company, valued at approximately $3,574,194.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RNR shares. BMO Capital Markets started coverage on RenaissanceRe in a research note on Thursday. They set a “market perform” rating and a $187.00 price target on the stock. Wells Fargo & Company increased their price target on RenaissanceRe from $200.00 to $234.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. StockNews.com raised RenaissanceRe from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, Morgan Stanley increased their price target on RenaissanceRe from $150.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $194.50.

RenaissanceRe Trading Down 1.9 %

Shares of RNR opened at $191.30 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $8.36 billion, a P/E ratio of -6.12 and a beta of 0.43. The stock’s fifty day simple moving average is $186.66 and its 200 day simple moving average is $157.91. RenaissanceRe Holdings Ltd. has a twelve month low of $124.18 and a twelve month high of $199.85.

RenaissanceRe (NYSE:RNRGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The insurance provider reported ($9.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($7.42) by ($1.85). RenaissanceRe had a negative net margin of 29.35% and a positive return on equity of 4.76%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.70 billion. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 6.41 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a $0.37 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.48 annualized dividend and a yield of 0.77%. RenaissanceRe’s dividend payout ratio is currently -4.74%.

RenaissanceRe Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating).

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.