LGT Group Foundation Purchases Shares of 25,298 RenaissanceRe Holdings Ltd. (NYSE:RNR)

LGT Group Foundation acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,298 shares of the insurance provider's stock, valued at approximately $5,063,000.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in RenaissanceRe in the 4th quarter valued at $37,000. Bruce G. Allen Investments LLC bought a new position in RenaissanceRe in the 4th quarter valued at $38,000. Daiwa Securities Group Inc. bought a new position in RenaissanceRe in the 4th quarter valued at $39,000. VisionPoint Advisory Group LLC bought a new position in RenaissanceRe in the 3rd quarter valued at $57,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of RenaissanceRe during the third quarter worth $143,000. Institutional investors own 99.97% of the company's stock.

Insider Activity

In other news, Director Carol P. Sanders sold 880 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now directly owns 5,363 shares in the company, valued at $1,220,565.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the company's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares in the company, valued at $16,518,653.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol P. Sanders sold 880 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RNR. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $237.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday. Evercore ISI boosted their target price on RenaissanceRe from $216.00 to $218.00 and gave the stock an "underperform" rating in a research report on Wednesday. UBS Group boosted their target price on RenaissanceRe from $229.00 to $238.00 and gave the stock a "neutral" rating in a research report on Monday, February 5th. TD Cowen assumed coverage on RenaissanceRe in a research note on Wednesday, January 10th. They set a "market perform" rating for the company. Finally, BMO Capital Markets lifted their price objective on RenaissanceRe from $216.00 to $295.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and an average target price of $249.00.

RenaissanceRe Trading Down 0.1 %

NYSE:RNR traded down $0.24 on Friday, reaching $218.32. The company's stock had a trading volume of 374,821 shares, compared to its average volume of 369,577. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.41. The firm has a market cap of $11.51 billion, a PE ratio of 4.85, a PEG ratio of 2.90 and a beta of 0.31. The business's 50-day moving average price is $226.56 and its two-hundred day moving average price is $216.37.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating analysts' consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company's quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.16 earnings per share. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.43 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. RenaissanceRe's payout ratio is 3.45%.

About RenaissanceRe

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.