Vise Technologies Inc. Makes New Investment in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Vise Technologies initiated a position in RenaissanceRe during the second quarter, purchasing 5,406 shares valued at approximately $1.7 million. Institutional investors collectively own 99.97% of the company.
• Analyst sentiment remains mixed, with five Buy, eleven Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $336.33.
• RenaissanceRe reported quarterly EPS of $12.92 on $2.77 billion in revenue and declared a quarterly dividend of $0.41 per share, representing a 0.5% yield.

Vise Technologies Inc. bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,406 shares of the insurance provider's stock, valued at approximately $1,713,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Denali Advisors LLC bought a new stake in RenaissanceRe in the 2nd quarter worth about $988,000. Great Lakes Advisors LLC bought a new position in shares of RenaissanceRe during the 2nd quarter worth approximately $87,916,000. BlackRock Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter worth approximately $1,319,724,000. Deutsche Bank AG purchased a new position in shares of RenaissanceRe in the 2nd quarter worth approximately $2,242,000. Finally, Perigon Wealth Management LLC bought a new position in shares of RenaissanceRe in the second quarter valued at approximately $244,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RNR shares. Mizuho increased their price target on RenaissanceRe from $325.00 to $329.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Evercore set a $330.00 price objective on RenaissanceRe in a research report on Thursday, July 23rd. Weiss Ratings lowered RenaissanceRe from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. Bank of America lifted their target price on RenaissanceRe from $410.00 to $438.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $336.33.

RenaissanceRe Trading Up 0.6%

NYSE:RNR opened at $324.18 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $335.97. 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 firm's 50 day moving average is $317.81 and its 200 day moving average is $305.13. The stock has a market capitalization of $13.47 billion, a PE ratio of 5.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.17.

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

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe's dividend payout ratio (DPR) is 2.81%.

Insiders Place Their Bets

In related news, EVP Robert Qutub sold 5,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 72,907 shares in the company, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

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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