First Trust Advisors LP decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 44.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,821 shares of the insurance provider’s stock after selling 28,099 shares during the quarter. First Trust Advisors LP’s holdings in RenaissanceRe were worth $6,080,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $33,000. Signaturefd LLC boosted its stake in shares of RenaissanceRe by 43.8% during the 2nd quarter. Signaturefd LLC now owns 210 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 64 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of RenaissanceRe during the 3rd quarter valued at about $44,000. First National Bank of South Miami bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $47,000. Finally, Private Advisor Group LLC bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $47,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.
RNR stock opened at $173.12 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $113.27 and a 52 week high of $202.68. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $172.43 and a two-hundred day simple moving average of $174.14. The firm has a market capitalization of $8.80 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46.
RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 27th. The insurance provider reported ($2.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.03) by ($0.61). RenaissanceRe had a net margin of 13.02% and a return on equity of 5.21%. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 6.27 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Monday, December 14th. RenaissanceRe’s dividend payout ratio is presently 15.33%.
RNR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of RenaissanceRe from $192.00 to $186.00 and set a “hold” rating on the stock in a research note on Thursday, October 29th. TheStreet upgraded shares of RenaissanceRe from a “c+” rating to a “b” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley decreased their price objective on shares of RenaissanceRe from $194.00 to $181.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $190.67.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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