Candriam S.C.A. purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 20,867 shares of the insurance provider's stock, valued at approximately $6,202,000.
Several other hedge funds and other institutional investors have also modified their holdings of RNR. Quarry LP boosted its holdings in shares of RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider's stock worth $34,000 after buying an additional 94 shares during the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at $36,000. Mcguire Capital Advisors Inc. purchased a new position in shares of RenaissanceRe in the fourth quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. raised its stake in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 37 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.
RenaissanceRe Price Performance
RNR opened at $320.64 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $301.04 and a 200 day simple moving average of $296.07. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $329.57. The stock has a market cap of $13.67 billion, a P/E ratio of 5.34, a P/E/G ratio of 1.17 and a beta of 0.17.
RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion for the quarter. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 40.59 EPS for the current year.
RenaissanceRe Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe's payout ratio is presently 2.73%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Wolfe Research set a $315.00 price target on RenaissanceRe in a research note on Tuesday, July 7th. Morgan Stanley boosted their target price on shares of RenaissanceRe from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Wells Fargo & Company raised their target price on RenaissanceRe from $306.00 to $329.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. Evercore set a $320.00 target price on RenaissanceRe in a research report on Friday. Finally, Bank of America dropped their price objective on shares of RenaissanceRe to $426.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $331.80.
Read Our Latest Analysis on RNR
RenaissanceRe Company Profile
(
Free Report)
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.
The company operates through two primary segments: Reinsurance and Insurance.
Further Reading
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