Corient Private Wealth LP Invests $2.31 Million in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Corient Private Wealth initiated a $2.31 million position in RenaissanceRe during the second quarter, purchasing 15,250 shares. Institutional investors and hedge funds collectively own 99.97% of the company.
• RenaissanceRe reported quarterly revenue of $2.77 billion and earnings of $12.92 per share, with a 23.10% return on equity and 23.65% net margin. The stock recently traded at $331.37, near its 12-month high of $335.97.
• The company declared a quarterly dividend of $0.41 per share, equivalent to a $1.64 annualized payout and a 0.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $336.33.

Corient Private Wealth LP bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,250 shares of the insurance provider's stock, valued at approximately $2,305,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. boosted its position in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider's stock worth $41,000 after acquiring an additional 37 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of RenaissanceRe by 2.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider's stock valued at $522,000 after acquiring an additional 40 shares during the last quarter. Midwest Professional Planners LTD. raised its position in shares of RenaissanceRe by 1.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider's stock worth $985,000 after acquiring an additional 48 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of RenaissanceRe by 2.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider's stock worth $509,000 after acquiring an additional 51 shares in the last quarter. Finally, Quarry LP lifted its stake in RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider's stock worth $34,000 after purchasing an additional 52 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

NYSE RNR opened at $331.37 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $322.21 and its two-hundred day moving average is $307.02. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $335.97. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 1.20 and a beta of 0.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The business had revenue of $2.77 billion during the quarter. Research analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe's dividend payout ratio is presently 2.81%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the sale, the executive vice president owned 72,907 shares of the company's stock, valued at approximately $24,280,218.21. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen upped their price target on RenaissanceRe from $300.00 to $315.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. Bank of America raised their price objective on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $329.00 to $360.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings downgraded shares of RenaissanceRe from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Finally, Morgan Stanley lifted their price target on shares of RenaissanceRe from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RenaissanceRe has an average rating of "Hold" and a consensus target price of $336.33.

RenaissanceRe Profile

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.

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