Renaissance Technologies LLC boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,409,197 shares of the insurance provider’s stock after buying an additional 20,075 shares during the period. Renaissance Technologies LLC owned approximately 3.50% of RenaissanceRe worth $188,241,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RNR. BlackRock Inc. boosted its position in RenaissanceRe by 1.5% in the 3rd quarter. BlackRock Inc. now owns 4,705,093 shares of the insurance provider’s stock worth $628,507,000 after purchasing an additional 70,280 shares in the last quarter. Janus Henderson Group PLC boosted its position in RenaissanceRe by 1.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,682,931 shares of the insurance provider’s stock worth $224,806,000 after purchasing an additional 23,573 shares in the last quarter. Victory Capital Management Inc. boosted its position in RenaissanceRe by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 719,190 shares of the insurance provider’s stock worth $96,069,000 after purchasing an additional 7,020 shares in the last quarter. ARGA Investment Management LP boosted its position in RenaissanceRe by 45.1% in the 2nd quarter. ARGA Investment Management LP now owns 578,166 shares of the insurance provider’s stock worth $69,565,000 after purchasing an additional 179,750 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of RenaissanceRe by 3,627.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 563,934 shares of the insurance provider’s stock valued at $23,142,000 after buying an additional 548,803 shares in the last quarter. Hedge funds and other institutional investors own 96.65% of the company’s stock.
In related news, Director Henry Klehm III sold 810 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $128.00, for a total value of $103,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:RNR opened at $135.51 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $116.50 and a 1 year high of $142.56. The company has a market cap of $5.39 billion, a PE ratio of -16.23, a price-to-earnings-growth ratio of 1.47 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 1.67.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.42. RenaissanceRe had a return on equity of 10.52% and a net margin of 15.07%. The firm had revenue of $453.30 million during the quarter, compared to the consensus estimate of $416.49 million. During the same period in the prior year, the company earned ($13.81) EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 9.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, December 13th. RenaissanceRe’s dividend payout ratio is currently -15.81%.
A number of research analysts have recently issued reports on the company. Citigroup decreased their target price on RenaissanceRe from $161.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Zacks Investment Research lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Buckingham Research increased their target price on RenaissanceRe from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co reiterated a “hold” rating and set a $130.00 target price on shares of RenaissanceRe in a research report on Wednesday, October 17th. Finally, Deutsche Bank upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, November 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $143.00.
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RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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