RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Swiss National Bank

Swiss National Bank increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,500 shares of the insurance provider’s stock after buying an additional 3,600 shares during the period. Swiss National Bank owned about 0.22% of RenaissanceRe worth $22,266,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Snowden Capital Advisors LLC increased its holdings in RenaissanceRe by 4.9% in the 1st quarter. Snowden Capital Advisors LLC now owns 1,166 shares of the insurance provider’s stock valued at $234,000 after buying an additional 54 shares during the period. Veritable L.P. grew its stake in shares of RenaissanceRe by 5.1% during the 2nd quarter. Veritable L.P. now owns 1,492 shares of the insurance provider’s stock worth $278,000 after acquiring an additional 72 shares in the last quarter. Hilton Capital Management LLC grew its stake in shares of RenaissanceRe by 5.5% during the 2nd quarter. Hilton Capital Management LLC now owns 1,406 shares of the insurance provider’s stock worth $262,000 after acquiring an additional 73 shares in the last quarter. Xponance Inc. grew its stake in shares of RenaissanceRe by 1.0% during the 3rd quarter. Xponance Inc. now owns 7,590 shares of the insurance provider’s stock worth $1,502,000 after acquiring an additional 75 shares in the last quarter. Finally, Advisor Partners II LLC grew its stake in shares of RenaissanceRe by 6.2% during the 1st quarter. Advisor Partners II LLC now owns 1,454 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

RenaissanceRe Trading Down 0.3 %

Shares of RenaissanceRe stock opened at $225.94 on Friday. The business has a fifty day simple moving average of $206.64 and a two-hundred day simple moving average of $203.22. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $235.14. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 4.41, a P/E/G ratio of 2.55 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.45.

RenaissanceRe (NYSE:RNRGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $7.33 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 33.98 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.39 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.97%.

Insider Transactions at RenaissanceRe

In other news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the sale, the chief financial officer now owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total transaction of $209,050.00. Following the completion of the sale, the executive vice president now owns 80,449 shares of the company’s stock, valued at $16,817,863.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the transaction, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,250 shares of company stock valued at $967,200. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RNR. TheStreet raised shares of RenaissanceRe from a “c” rating to a “b-” rating in a research note on Monday, October 30th. UBS Group raised their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Evercore ISI began coverage on shares of RenaissanceRe in a research note on Thursday, December 14th. They issued an “underperform” rating and a $200.00 target price for the company. TD Cowen began coverage on shares of RenaissanceRe in a research note on Wednesday, January 10th. They issued a “market perform” rating for the company. Finally, Citigroup began coverage on shares of RenaissanceRe in a research note on Wednesday, November 22nd. They issued a “buy” rating and a $251.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $240.90.

View Our Latest Stock Analysis on RenaissanceRe

RenaissanceRe Company Profile

(Free Report)

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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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