Philadelphia Financial Management of San Francisco LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 137,193 shares of the insurance provider’s stock, valued at approximately $17,230,000. RenaissanceRe makes up approximately 2.5% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 16th largest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 0.34% of RenaissanceRe at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in RenaissanceRe by 18.9% during the 4th quarter. BlackRock Inc. now owns 4,638,743 shares of the insurance provider’s stock valued at $582,578,000 after purchasing an additional 736,689 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in RenaissanceRe by 57.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,137,800 shares of the insurance provider’s stock valued at $142,896,000 after acquiring an additional 413,700 shares during the period. Cooke & Bieler LP raised its holdings in RenaissanceRe by 14.0% during the 4th quarter. Cooke & Bieler LP now owns 1,069,280 shares of the insurance provider’s stock valued at $134,291,000 after acquiring an additional 130,908 shares during the period. Renaissance Technologies LLC raised its holdings in RenaissanceRe by 21.8% during the 4th quarter. Renaissance Technologies LLC now owns 868,115 shares of the insurance provider’s stock valued at $109,027,000 after acquiring an additional 155,100 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of RenaissanceRe by 0.8% in the third quarter. Wells Fargo & Company MN now owns 775,406 shares of the insurance provider’s stock worth $104,788,000 after purchasing an additional 6,452 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.
Shares of RenaissanceRe Holdings Ltd. (RNR) traded down $0.63 during midday trading on Wednesday, hitting $136.17. 13,980 shares of the company’s stock were exchanged, compared to its average volume of 406,853. RenaissanceRe Holdings Ltd. has a fifty-two week low of $116.50 and a fifty-two week high of $152.00. The company has a market capitalization of $5,464.85, a P/E ratio of -21.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.25.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.32 annualized dividend and a yield of 0.97%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.32. RenaissanceRe’s dividend payout ratio (DPR) is currently -20.16%.
RNR has been the topic of several research analyst reports. Wells Fargo & Co reaffirmed a “hold” rating on shares of RenaissanceRe in a report on Friday, December 22nd. Zacks Investment Research cut RenaissanceRe from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Citigroup set a $152.00 price target on shares of RenaissanceRe and gave the company a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. RenaissanceRe has a consensus rating of “Hold” and a consensus price target of $145.88.
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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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