Callan Family Office LLC bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,041 shares of the insurance provider’s stock, valued at approximately $647,000.
A number of other hedge funds have also recently modified their holdings of RNR. Kingdom Financial Group LLC. purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $36,000. Quarry LP raised its position in shares of RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of RenaissanceRe during the 2nd quarter valued at approximately $42,000. CIBC Private Wealth Group LLC lifted its holdings in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in RenaissanceRe in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.
Wall Street Analyst Weigh In
RNR has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. UBS Group set a $349.00 price target on RenaissanceRe and gave the stock a “neutral” rating in a report on Monday, July 27th. Morgan Stanley raised their price objective on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Mizuho boosted their price objective on shares of RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Weiss Ratings cut shares of RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus price target of $336.33.
RenaissanceRe Price Performance
RNR opened at $329.35 on Wednesday. The stock’s 50-day moving average price is $319.02 and its 200 day moving average price is $305.78. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $335.97. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 1.20 and a beta of 0.17.
RenaissanceRe (NYSE:RNR – Get Free Report) last released its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. The company had revenue of $2.77 billion during the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.
RenaissanceRe Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.81%.
Insider Activity at RenaissanceRe
In related news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president owned 72,907 shares in the company, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.
RenaissanceRe Profile
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.
The company operates through two primary segments: Reinsurance and Insurance.
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