Fox Run Management L.L.C. purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,954 shares of the insurance provider’s stock, valued at approximately $261,000.
Other institutional investors have also made changes to their positions in the company. BlueMountain Capital Management LLC lifted its holdings in RenaissanceRe by 1,331.5% during the 2nd quarter. BlueMountain Capital Management LLC now owns 1,274 shares of the insurance provider’s stock valued at $153,000 after purchasing an additional 1,185 shares during the last quarter. Welch Group LLC acquired a new stake in RenaissanceRe during the 4th quarter valued at $194,000. Rehmann Capital Advisory Group lifted its holdings in RenaissanceRe by 13,469.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 26,053 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 25,861 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in RenaissanceRe during the 3rd quarter valued at $200,000. Finally, Guyasuta Investment Advisors Inc. acquired a new stake in shares of RenaissanceRe during the third quarter worth $200,000. 96.41% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE RNR opened at $132.95 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 52 week low of $117.35 and a 52 week high of $142.56. The firm has a market capitalization of $5.35 billion, a P/E ratio of -15.92, a P/E/G ratio of 1.20 and a beta of 0.55.
RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, topping the Zacks’ 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 company had revenue of $453.30 million for the quarter, compared to analysts’ expectations of $416.49 million. During the same quarter last year, the business earned ($13.81) earnings per share. RenaissanceRe’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 7.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, December 14th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, December 13th. RenaissanceRe’s payout ratio is currently -15.81%.
In related news, SVP Jonathan Paradine sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $132.79, for a total value of $2,655,800.00. Following the transaction, the senior vice president now owns 64,630 shares in the company, valued at $8,582,217.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Klehm III sold 810 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 40,810 shares of company stock worth $5,415,280 in the last 90 days. 1.50% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on RNR shares. Deutsche Bank raised RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, November 7th. Zacks Investment Research raised RenaissanceRe from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a report on Tuesday, October 16th. Buckingham Research lifted their target price on RenaissanceRe from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Citigroup dropped their target price on RenaissanceRe from $161.00 to $153.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Finally, Wells Fargo & Co reissued a “hold” rating and set a $130.00 target price on shares of RenaissanceRe in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $143.70.
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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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