Zurcher Kantonalbank Zurich Cantonalbank Buys 2,846 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,237 shares of the insurance provider’s stock after purchasing an additional 2,846 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RenaissanceRe were worth $2,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC boosted its position in shares of RenaissanceRe by 1.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 59 shares in the last quarter. Xponance Inc. lifted its position in RenaissanceRe by 1.0% in the 3rd quarter. Xponance Inc. now owns 7,590 shares of the insurance provider’s stock valued at $1,502,000 after acquiring an additional 75 shares in the last quarter. Nordea Investment Management AB lifted its position in RenaissanceRe by 0.5% in the 3rd quarter. Nordea Investment Management AB now owns 16,652 shares of the insurance provider’s stock valued at $3,352,000 after acquiring an additional 89 shares in the last quarter. Aviva PLC lifted its position in RenaissanceRe by 5.8% in the 3rd quarter. Aviva PLC now owns 1,790 shares of the insurance provider’s stock valued at $354,000 after acquiring an additional 98 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in RenaissanceRe by 1.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,810 shares of the insurance provider’s stock valued at $1,546,000 after acquiring an additional 114 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the 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 sale, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the 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 sale, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 750 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock worth $958,429 in the last three months. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Trading Down 2.9 %

NYSE:RNR opened at $220.17 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 4.30, a price-to-earnings-growth ratio of 3.01 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a one year low of $174.22 and a one year high of $239.42. The business has a fifty day moving average price of $227.41 and a 200-day moving average price of $216.04.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. RenaissanceRe’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $7.33 EPS. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. RenaissanceRe’s dividend payout ratio is 3.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen assumed coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. UBS Group upped their price objective on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. BMO Capital Markets upped their price objective on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Evercore ISI boosted their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, RenaissanceRe has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Company Profile

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.