Amundi Purchases 1,054 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Amundi increased its stake in RenaissanceRe Holdings Ltd. by 18.0%, owning a total of 6,924 shares valued at approximately $1.7 million by the end of the first quarter.
• RenaissanceRe reported an EPS of $12.29 for the last quarter, significantly beating analysts' expectations of $10.28, though revenue decreased by 2.4% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, set to be paid on September 30th, which translates to an annualized yield of 0.6%.

Amundi boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,924 shares of the insurance provider's stock after acquiring an additional 1,054 shares during the period. Amundi's holdings in RenaissanceRe were worth $1,699,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. DRW Securities LLC acquired a new position in shares of RenaissanceRe during the first quarter valued at approximately $325,000. Vident Advisory LLC lifted its position in RenaissanceRe by 53.4% during the 1st quarter. Vident Advisory LLC now owns 1,763 shares of the insurance provider's stock worth $423,000 after acquiring an additional 614 shares during the last quarter. PEAK6 LLC increased its holdings in shares of RenaissanceRe by 148.7% during the 1st quarter. PEAK6 LLC now owns 2,434 shares of the insurance provider's stock worth $584,000 after purchasing an additional 7,434 shares during the period. Jane Street Group LLC increased its stake in RenaissanceRe by 1,481.0% in the first quarter. Jane Street Group LLC now owns 91,617 shares of the insurance provider's stock valued at $21,988,000 after acquiring an additional 85,822 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in RenaissanceRe in the first quarter valued at about $2,725,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

RNR has been the topic of several analyst reports. Cantor Fitzgerald upgraded shares of RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their price target on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. UBS Group lifted their price objective on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Citigroup began coverage on shares of RenaissanceRe in a research report on Wednesday, August 13th. They issued a "buy" rating and a $288.00 price objective for the company. Finally, Wolfe Research began coverage on shares of RenaissanceRe in a research report on Monday. They issued a "peer perform" rating for the company. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $282.09.

RenaissanceRe Trading Down 1.5%

RNR traded down $3.68 during trading on Monday, reaching $243.67. 401,451 shares of the company's stock were exchanged, compared to its average volume of 346,746. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.47 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 2.42 and a beta of 0.29. The firm has a fifty day moving average price of $241.68 and a two-hundred day moving average price of $241.70.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the firm posted $12.41 EPS. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued 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 dividend 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.