Aberdeen Group plc Purchases 1,674 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Aberdeen Group plc increased its stake in RenaissanceRe Holdings Ltd. by 6.1%, owning 28,994 shares worth approximately $7,043,000 after acquiring an additional 1,674 shares.
• RenaissanceRe recently reported an EPS of $12.29 for the quarter, exceeding estimates, but its revenue declined 2.4% year-over-year, totaling $2.77 billion.
• The company announced a quarterly dividend of $0.40 per share, with a dividend yield of 0.6% and a payout ratio of 4.09% for stockholders.

Aberdeen Group plc grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,994 shares of the insurance provider's stock after purchasing an additional 1,674 shares during the period. Aberdeen Group plc owned approximately 0.06% of RenaissanceRe worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RNR. IFP Advisors Inc lifted its holdings in RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider's stock worth $28,000 after buying an additional 72 shares in the last quarter. Brooklyn Investment Group increased its holdings in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock worth $35,000 after purchasing an additional 88 shares in the last quarter. Tsfg LLC bought a new position in RenaissanceRe during the 1st quarter worth about $40,000. MassMutual Private Wealth & Trust FSB increased its position in shares of RenaissanceRe by 43.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider's stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after acquiring an additional 141 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Down 3.5%

NYSE:RNR opened at $251.01 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50-day moving average of $247.88 and a 200-day moving average of $243.66. The company has a market cap of $11.82 billion, a PE ratio of 6.41, a PEG ratio of 2.18 and a beta of 0.27. 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 the consensus estimate of $10.28 by $2.01. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $12.41 earnings per share. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe's payout ratio is presently 4.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group raised their price objective on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 8th. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a research note on Wednesday, August 13th. Citigroup assumed coverage on shares of RenaissanceRe in a research note on Wednesday, August 13th. They issued a "buy" rating and a $288.00 price objective on the stock. Morgan Stanley decreased their target price on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of RenaissanceRe in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $283.08.

About RenaissanceRe

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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