Park Avenue Securities LLC Has $378,000 Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Park Avenue Securities LLC raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) by 2.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,693 shares of the insurance provider’s stock after acquiring an additional 74 shares during the period. Park Avenue Securities LLC’s holdings in RenaissanceRe were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Management LLC acquired a new stake in shares of RenaissanceRe during the 2nd quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new position in RenaissanceRe in the second quarter worth $31,000. Wipfli Financial Advisors LLC acquired a new stake in RenaissanceRe during the third quarter worth $34,000. Private Trust Co. NA bought a new stake in RenaissanceRe in the 2nd quarter valued at $74,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in RenaissanceRe in the 3rd quarter valued at $163,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

RenaissanceRe Stock Down 1.9 %

Shares of NYSE:RNR opened at $191.30 on Monday. RenaissanceRe Holdings Ltd. has a 52 week low of $124.18 and a 52 week high of $199.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average is $186.66 and its 200-day moving average is $157.91. The company has a market capitalization of $8.36 billion, a PE ratio of -6.12 and a beta of 0.43.

RenaissanceRe (NYSE:RNRGet Rating) last issued its earnings results on Tuesday, November 1st. The insurance provider reported ($9.27) 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.70 billion. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 6.41 earnings per share for the current fiscal 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 given a dividend of $0.37 per share. 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 (DPR) is -4.74%.

Insider Buying and Selling

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

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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