Campbell & CO Investment Adviser LLC Invests $2.73 Million in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Campbell & CO Investment Adviser LLC acquired a new stake in RenaissanceRe Holdings Ltd., purchasing 11,354 shares valued at approximately $2.725 million during the first quarter.
• RenaissanceRe has received varying price targets from analysts, with a consensus average target of $282.09, reflecting an overall "Hold" rating.
• The company has declared a quarterly dividend of $0.40 per share, with an annualized yield of 0.6%, payable on September 30th to shareholders of record.

Campbell & CO Investment Adviser LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,354 shares of the insurance provider's stock, valued at approximately $2,725,000.

A number of other institutional investors have also recently bought and sold shares of RNR. MML Investors Services LLC lifted its position in RenaissanceRe by 4.8% during the fourth quarter. MML Investors Services LLC now owns 9,989 shares of the insurance provider's stock valued at $2,485,000 after buying an additional 457 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in RenaissanceRe by 19.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 14,630 shares of the insurance provider's stock valued at $3,640,000 after buying an additional 2,430 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in RenaissanceRe during the fourth quarter valued at approximately $11,973,000. Aquatic Capital Management LLC acquired a new position in RenaissanceRe during the fourth quarter valued at approximately $2,205,000. Finally, Northern Trust Corp lifted its position in RenaissanceRe by 8.2% during the fourth quarter. Northern Trust Corp now owns 559,805 shares of the insurance provider's stock valued at $139,285,000 after buying an additional 42,385 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley reduced their target price on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Finally, UBS Group boosted their target price on shares of RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $282.09.

RenaissanceRe Stock Performance

RNR stock traded up $1.30 during trading on Friday, hitting $242.71. 175,928 shares of the company's stock traded hands, compared to its average volume of 475,410. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The stock has a fifty day moving average price of $241.41 and a two-hundred day moving average price of $240.64. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 2.39 and a beta of 0.29.

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

RenaissanceRe Announces Dividend

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

RenaissanceRe Company 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.