Benjamin Edwards Inc. acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,748 shares of the insurance provider's stock, valued at approximately $435,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after buying an additional 182,530 shares during the period. Trexquant Investment LP purchased a new stake in RenaissanceRe during the fourth quarter valued at about $561,000. Barclays PLC increased its stake in RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after acquiring an additional 8,333 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of RenaissanceRe in the 4th quarter worth about $1,086,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RenaissanceRe during the 4th quarter worth about $7,986,000. Hedge funds and other institutional investors own 99.97% of the company's stock.
Wall Street Analysts Forecast Growth
RNR has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group cut their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Morgan Stanley raised RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $235.00 to $275.00 in a research report on Friday, April 25th. Finally, Barclays lowered their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus target price of $282.60.
Check Out Our Latest Stock Report on RNR
Insider Buying and Selling at RenaissanceRe
In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.
RenaissanceRe Stock Performance
Shares of RNR opened at $251.61 on Friday. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 2.09 and a beta of 0.34. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The business's 50 day moving average is $239.86 and its two-hundred day moving average is $249.87. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00.
RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $12.18 earnings per share. Analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.
RenaissanceRe Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio is currently 5.10%.
RenaissanceRe Profile
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Free Report)
RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.
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