Robeco Institutional Asset Management B.V. lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 320,697 shares of the insurance provider’s stock after selling 21,641 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.77% of RenaissanceRe worth $102,055,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of RNR. Ashurst Perkins Coie Trust Co purchased a new position in shares of RenaissanceRe during the third quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its holdings in shares of RenaissanceRe by 90.0% during the third quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 45 shares in the last quarter. Continuum Advisory LLC purchased a new stake in RenaissanceRe in the second quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in RenaissanceRe in the second quarter worth $42,000. Finally, Versant Capital Management Inc lifted its stake in RenaissanceRe by 155.3% in the third quarter. Versant Capital Management Inc now owns 194 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.
Insider Transactions at RenaissanceRe
In related news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the sale, the executive vice president owned 72,907 shares of the company’s stock, valued at $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Mizuho lifted their price target on shares of RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. UBS Group set a $349.00 price objective on shares of RenaissanceRe and gave the stock a “neutral” rating in a report on Monday, July 27th. Bank of America raised their target price on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Jefferies Financial Group raised shares of RenaissanceRe from a “hold” rating to a “market outperform” rating in a research note on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Six 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $337.50.
View Our Latest Research Report on RenaissanceRe
RenaissanceRe Price Performance
Shares of RNR stock opened at $355.36 on Thursday. The business’s fifty day moving average is $329.74 and its 200 day moving average is $315.35. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.99 and a beta of 0.12. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $357.07.
RenaissanceRe (NYSE:RNR – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%. The business had revenue of $2.77 billion during the quarter. Research analysts expect that RenaissanceRe Holdings Ltd. will post 45.66 EPS for the current fiscal year.
RenaissanceRe Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 15th. RenaissanceRe’s dividend payout ratio (DPR) is 2.81%.
RenaissanceRe Profile
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.
RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.
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