Jane Street Group LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 2,205 shares of the insurance provider’s stock, valued at approximately $295,000.
Several other institutional investors have also modified their holdings of RNR. Penserra Capital Management LLC bought a new stake in shares of RenaissanceRe during the 4th quarter valued at $30,000. JOYN Advisors Inc. raised its position in shares of RenaissanceRe by 63.9% during the 4th quarter. JOYN Advisors Inc. now owns 241 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of RenaissanceRe by 52.6% during the 4th quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of RenaissanceRe by 65.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 322 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 127 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of RenaissanceRe by 333.3% during the 4th quarter. AdvisorNet Financial Inc now owns 650 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 95.60% of the company’s stock.
Several analysts have commented on RNR shares. Bank of America cut shares of RenaissanceRe from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 16th. UBS Group upped their target price on shares of RenaissanceRe from $144.00 to $153.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $130.00 to $125.00 in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “hold” rating and issued a $125.00 price target on shares of RenaissanceRe in a report on Tuesday, January 29th. Finally, TheStreet raised shares of RenaissanceRe from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $146.36.
Shares of RNR stock opened at $152.23 on Tuesday. RenaissanceRe Holdings Ltd. has a 12-month low of $117.35 and a 12-month high of $152.80. The firm has a market capitalization of $6.43 billion, a PE ratio of 16.60, a PEG ratio of 1.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.71 and a quick ratio of 1.71.
RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.93) by $1.95. RenaissanceRe had a net margin of 10.96% and a return on equity of 9.18%. The company had revenue of $633.44 million during the quarter, compared to analyst estimates of $545.60 million. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 11.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.34 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. RenaissanceRe’s payout ratio is 14.83%.
In related news, SVP Ross Curtis sold 7,500 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $152.00, for a total value of $1,140,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,503 shares of the company’s stock, valued at approximately $16,036,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Sean G. Brosnan sold 1,250 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total transaction of $182,462.50. Following the completion of the transaction, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
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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 earthquakes, hurricanes, 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, and binding facilities and regional U.S.
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