NWQ Investment Management Company LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 423,142 shares of the insurance provider’s stock after purchasing an additional 112,610 shares during the quarter. NWQ Investment Management Company LLC owned 1.06% of RenaissanceRe worth $53,142,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of RNR. Advisor Group Inc. raised its position in RenaissanceRe by 89.6% in the fourth quarter. Advisor Group Inc. now owns 1,117 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 528 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in RenaissanceRe in the fourth quarter valued at about $176,000. Cadence Capital Management LLC bought a new position in RenaissanceRe in the third quarter valued at about $219,000. Unison Advisors LLC bought a new position in RenaissanceRe in the fourth quarter valued at about $219,000. Finally, Toronto Dominion Bank raised its position in RenaissanceRe by 241.0% in the third quarter. Toronto Dominion Bank now owns 1,715 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
A number of equities analysts have recently issued reports on RNR shares. Wells Fargo & Co restated a “hold” rating on shares of RenaissanceRe in a research report on Friday, December 22nd. Zacks Investment Research downgraded RenaissanceRe from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Citigroup set a $152.00 price objective on RenaissanceRe and gave the stock a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $145.88.
RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.29. The business had revenue of $288.22 million during the quarter, compared to the consensus estimate of $227.65 million. RenaissanceRe had a negative return on equity of 7.68% and a negative net margin of 10.57%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.66 earnings per share. equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 9.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.33 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Wednesday, March 14th. RenaissanceRe’s payout ratio is presently -20.16%.
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RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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