RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Increased by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,355 shares of the insurance provider’s stock after buying an additional 993 shares during the quarter. CHICAGO TRUST Co NA’s holdings in RenaissanceRe were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RNR. Bleakley Financial Group LLC raised its holdings in shares of RenaissanceRe by 83.5% in the 4th quarter. Bleakley Financial Group LLC now owns 2,112 shares of the insurance provider’s stock worth $525,000 after purchasing an additional 961 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $428,000. Benedict Financial Advisors Inc. raised its holdings in shares of RenaissanceRe by 0.7% in the 4th quarter. Benedict Financial Advisors Inc. now owns 12,603 shares of the insurance provider’s stock worth $3,136,000 after purchasing an additional 86 shares in the last quarter. Lightrock Netherlands B.V. bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $4,607,000. Finally, Autumn Glory Partners LLC raised its holdings in shares of RenaissanceRe by 100.0% in the 4th quarter. Autumn Glory Partners LLC now owns 2,000 shares of the insurance provider’s stock worth $498,000 after purchasing an additional 1,000 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Performance

Shares of RNR opened at $246.70 on Monday. The company’s 50 day moving average price is $241.42 and its 200 day moving average price is $246.85. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a market capitalization of $12.00 billion, a PE ratio of 7.04, a PEG ratio of 2.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the firm posted $12.18 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe’s dividend payout ratio is 5.10%.

Analysts Set New Price Targets

RNR has been the topic of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Barclays dropped their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $283.60.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer now directly owns 27,154 shares of the company’s stock, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe 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.