Kestra Private Wealth Services LLC bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,582 shares of the insurance provider’s stock, valued at approximately $822,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashurst Perkins Coie Trust Co acquired a new stake in RenaissanceRe in the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC increased its holdings in RenaissanceRe by 90.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 45 shares in the last quarter. Continuum Advisory LLC purchased a new stake in RenaissanceRe in the 2nd quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in RenaissanceRe during the second quarter worth $42,000. Finally, Versant Capital Management Inc raised its position in RenaissanceRe by 155.3% during 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.
Wall Street Analysts Forecast Growth
RNR has been the topic of several research analyst reports. TD Cowen lifted their target price on shares of RenaissanceRe from $315.00 to $320.00 and gave the company a “hold” rating in a research report on Monday, October 12th. Mizuho set a $352.00 target price on shares of RenaissanceRe in a research note on Monday, November 2nd. Bank of America upped their price objective on shares of RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of RenaissanceRe in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their price objective on shares of RenaissanceRe from $319.00 to $338.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $343.69.
Check Out Our Latest Report on RNR
RenaissanceRe Stock Down 2.1%
Shares of RenaissanceRe stock traded down $7.48 on Friday, reaching $346.75. 360,131 shares of the company were exchanged, compared to its average volume of 503,427. RenaissanceRe Holdings Ltd. has a 1-year low of $251.60 and a 1-year high of $363.84. The company has a market cap of $14.01 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 0.92 and a beta of 0.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s 50 day moving average price is $335.19 and its 200-day moving average price is $312.00.
RenaissanceRe (NYSE:RNR – Get Free Report) last issued its earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share for the quarter, beating the consensus estimate of $10.56 by $2.15. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $15.62 earnings per share. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 49.24 EPS for the current year.
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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