US Bancorp DE decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,537 shares of the insurance provider's stock after selling 1,098 shares during the period. US Bancorp DE's holdings in RenaissanceRe were worth $3,531,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of RenaissanceRe by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after purchasing an additional 676,125 shares during the period. Boston Partners raised its stake in shares of RenaissanceRe by 4.6% during the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock valued at $505,509,000 after purchasing an additional 92,825 shares during the period. Cooke & Bieler LP raised its stake in shares of RenaissanceRe by 18.0% during the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after purchasing an additional 190,139 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of RenaissanceRe by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider's stock valued at $183,175,000 after purchasing an additional 101,060 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of RenaissanceRe by 15.2% during the first quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider's stock valued at $112,038,000 after purchasing an additional 61,465 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of RenaissanceRe in a research note on Wednesday, August 13th. They set a "buy" rating and a $288.00 price objective on the stock. Wolfe Research initiated coverage on shares of RenaissanceRe in a research note on Monday, September 15th. They set a "peer perform" rating on the stock. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a research report on Wednesday, August 13th. Cowen reissued a "hold" rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Finally, Morgan Stanley decreased their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $285.55.
Check Out Our Latest Analysis on RenaissanceRe
RenaissanceRe Stock Performance
Shares of RNR opened at $262.25 on Tuesday. The business's fifty day moving average price is $246.78 and its 200 day moving average price is $243.32. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The stock has a market capitalization of $12.34 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36.
RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period last year, the business posted $12.41 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.
RenaissanceRe Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, September 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe's dividend payout ratio (DPR) is 4.09%.
RenaissanceRe Profile
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Free Report)
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.
Further Reading
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