First Horizon Advisors Inc. Has $67,000 Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Horizon Advisors Inc. increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 88.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 344 shares of the insurance provider’s stock after buying an additional 161 shares during the quarter. First Horizon Advisors Inc.’s holdings in RenaissanceRe were worth $67,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cooke & Bieler LP raised its holdings in shares of RenaissanceRe by 97.9% in the 4th quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock valued at $213,440,000 after purchasing an additional 538,636 shares during the period. AQR Capital Management LLC increased its holdings in shares of RenaissanceRe by 226.8% during the 3rd quarter. AQR Capital Management LLC now owns 280,666 shares of the insurance provider’s stock worth $55,549,000 after acquiring an additional 194,774 shares during the last quarter. Boston Partners lifted its holdings in RenaissanceRe by 7.1% during the 3rd quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock valued at $406,390,000 after purchasing an additional 135,861 shares during the last quarter. Vanguard Group Inc. boosted its position in RenaissanceRe by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after purchasing an additional 120,302 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of RenaissanceRe by 22.1% in the fourth quarter. Jennison Associates LLC now owns 533,127 shares of the insurance provider’s stock valued at $104,493,000 after purchasing an additional 96,322 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RNR. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TD Cowen started coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. BMO Capital Markets lifted their price target on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Evercore ISI upped their price objective on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their target price on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average price target of $249.00.

RenaissanceRe Stock Up 0.9 %

Shares of NYSE RNR opened at $225.01 on Wednesday. RenaissanceRe Holdings Ltd. has a 52 week low of $174.22 and a 52 week high of $239.42. The stock’s fifty day moving average is $226.33 and its 200 day moving average is $216.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $11.90 billion, a P/E ratio of 4.97, a PEG ratio of 1.95 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating the consensus estimate of $9.86 by $2.32. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the previous year, the company earned $8.16 EPS. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.