Vise Technologies Inc. lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) by 51.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,194 shares of the insurance provider’s stock after purchasing an additional 2,788 shares during the period. Vise Technologies Inc.’s holdings in RenaissanceRe were worth $2,608,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its position in RenaissanceRe by 0.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,405 shares of the insurance provider’s stock worth $1,713,000 after buying an additional 32 shares during the period. Wedmont Private Capital boosted its holdings in shares of RenaissanceRe by 3.1% in the second quarter. Wedmont Private Capital now owns 1,205 shares of the insurance provider’s stock valued at $380,000 after acquiring an additional 36 shares during the period. Mather Group LLC. boosted its holdings in shares of RenaissanceRe by 18.0% in the third quarter. Mather Group LLC. now owns 242 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 37 shares during the period. Elevation Wealth Partners LLC grew its position 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 worth $30,000 after acquiring an additional 45 shares during the last quarter. Finally, Midwest Professional Planners LTD. grew its position in shares of RenaissanceRe by 1.5% during the first quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock worth $985,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.
RenaissanceRe Stock Up 1.9%
RenaissanceRe stock opened at $353.34 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.40. 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 $14.28 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.91 and a beta of 0.11. The stock’s 50 day moving average price is $334.43 and its 200 day moving average price is $311.20.
RenaissanceRe (NYSE:RNR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.78 billion. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. During the same quarter in the prior year, the company posted $15.62 earnings per share. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 48.50 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts recently commented on RNR shares. UBS Group upped their price target on shares of RenaissanceRe from $349.00 to $366.00 and gave the company a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. dropped their price objective on shares of RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Weiss Ratings cut shares of RenaissanceRe from a “buy (b+)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, TD Cowen increased their target price on shares of RenaissanceRe from $315.00 to $320.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $343.69.
Read Our Latest Stock Report on RNR
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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