RenaissanceRe Holdings Ltd. $RNR Stock Holdings Decreased by SRB Corp

SRB Corp lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 7.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 388,478 shares of the insurance provider’s stock after selling 31,611 shares during the quarter. RenaissanceRe makes up about 7.1% of SRB Corp’s investment portfolio, making the stock its 3rd largest position. SRB Corp’s holdings in RenaissanceRe were worth $115,467,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its stake in RenaissanceRe by 135.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after purchasing an additional 112,910 shares during the period. Belpointe Asset Management LLC boosted its stake in RenaissanceRe by 595.0% in the 4th quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock worth $1,729,000 after purchasing an additional 5,266 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in RenaissanceRe by 68.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,171 shares of the insurance provider’s stock valued at $3,855,000 after buying an additional 5,782 shares in the last quarter. M&T Bank Corp grew its holdings in RenaissanceRe by 8,296.5% during the 4th quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock valued at $81,635,000 after buying an additional 286,894 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in RenaissanceRe by 247,520.0% during the 4th quarter. Horizon Investments LLC now owns 24,762 shares of the insurance provider’s stock valued at $6,962,000 after buying an additional 24,752 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $328.33 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.37. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $329.60. The stock’s 50 day simple moving average is $305.10 and its two-hundred day simple moving average is $298.42. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 1.24 and a beta of 0.17.

RenaissanceRe (NYSE:RNRGet Free Report) last posted its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 EPS for the quarter, beating analysts’ consensus estimates of $11.72 by $1.20. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.57 billion. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.During the same period in the prior year, the company earned $12.29 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.57 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is presently 2.81%.

Analysts Set New Price Targets

Several research firms have recently commented on RNR. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Wall Street Zen cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America raised their target price on shares of RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of RenaissanceRe from $306.00 to $329.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Wolfe Research set a $315.00 price target on shares of RenaissanceRe in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $335.33.

Read Our Latest Analysis on RenaissanceRe

RenaissanceRe Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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