RenaissanceRe Holdings Ltd. $RNR Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,800 shares of the insurance provider’s stock after purchasing an additional 458 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in RenaissanceRe were worth $3,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of RenaissanceRe by 160.0% during the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares during the period. Brooklyn Investment Group increased its stake in shares of RenaissanceRe by 151.7% during the first quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after buying an additional 88 shares during the period. Tsfg LLC purchased a new stake in shares of RenaissanceRe during the first quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of RenaissanceRe by 43.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after buying an additional 56 shares during the period. Finally, LRI Investments LLC increased its stake in shares of RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR opened at $245.45 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The firm has a market cap of $11.55 billion, a PE ratio of 6.27, a price-to-earnings-growth ratio of 2.09 and a beta of 0.27. The company’s 50 day simple moving average is $248.36 and its 200-day simple moving average is $243.77. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.28 by $2.01. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $12.41 earnings per share. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. RenaissanceRe’s dividend payout ratio (DPR) is 4.09%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI set a $244.00 target price on shares of RenaissanceRe and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $303.00 price target on shares of RenaissanceRe in a research note on Thursday, October 9th. Morgan Stanley dropped their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on shares of RenaissanceRe from $269.00 to $278.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Finally, Barclays set a $278.00 price target on shares of RenaissanceRe in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus target price of $283.08.

RenaissanceRe Company 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.