2,591 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Wealthquest Corp

Key Points

• Wealthquest Corp acquired 2,591 shares of RenaissanceRe Holdings Ltd. (NYSE:RNR), valued at approximately $622,000, during the first quarter.
• The company recently announced a quarterly dividend of $0.40 per share, which will be paid on September 30th, with an annual yield of 0.7%.
• RenaissanceRe reported $12.29 EPS for the last quarter, surpassing analyst estimates of $10.28 but showing a decline in quarterly revenue compared to the previous year.

Wealthquest Corp bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,591 shares of the insurance provider's stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. XTX Topco Ltd grew its stake in shares of RenaissanceRe by 26.2% in the 1st quarter. XTX Topco Ltd now owns 12,252 shares of the insurance provider's stock valued at $2,940,000 after purchasing an additional 2,542 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of RenaissanceRe by 34.3% in the 1st quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider's stock valued at $1,448,000 after purchasing an additional 1,541 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of RenaissanceRe by 366.1% in the 1st quarter. Mackenzie Financial Corp now owns 79,053 shares of the insurance provider's stock valued at $18,973,000 after purchasing an additional 62,091 shares during the last quarter. LPL Financial LLC grew its stake in shares of RenaissanceRe by 12.8% in the 1st quarter. LPL Financial LLC now owns 8,035 shares of the insurance provider's stock valued at $1,928,000 after purchasing an additional 910 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of RenaissanceRe by 0.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,518 shares of the insurance provider's stock valued at $3,244,000 after purchasing an additional 100 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 0.3%

RNR opened at $243.85 on Friday. The business's fifty day moving average is $242.35 and its two-hundred day moving average is $241.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 2.51 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping analysts' consensus estimates of $10.28 by $2.01. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. RenaissanceRe's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $12.41 earnings per share. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 15th. RenaissanceRe's payout ratio is presently 4.09%.

Insider Buying and Selling

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer directly owned 27,154 shares in the company, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

RNR has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a research note on Monday. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Jefferies Financial Group decreased their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Barclays lifted their price target on RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $287.50.

RenaissanceRe Profile

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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