Rhumbline Advisers decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,552 shares of the insurance provider’s stock after selling 726 shares during the period. Rhumbline Advisers owned 0.24% of RenaissanceRe worth $14,429,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of RenaissanceRe by 61.0% in the third quarter. JPMorgan Chase & Co. now owns 97,227 shares of the insurance provider’s stock valued at $12,987,000 after purchasing an additional 36,837 shares during the period. Standard Life Aberdeen plc lifted its stake in shares of RenaissanceRe by 20.8% in the third quarter. Standard Life Aberdeen plc now owns 5,322 shares of the insurance provider’s stock valued at $711,000 after purchasing an additional 916 shares during the period. Vanguard Group Inc raised its position in RenaissanceRe by 1.5% during the third quarter. Vanguard Group Inc now owns 4,103,600 shares of the insurance provider’s stock worth $548,159,000 after acquiring an additional 59,867 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in RenaissanceRe during the fourth quarter worth about $261,000. Finally, James Investment Research Inc. acquired a new position in RenaissanceRe during the fourth quarter worth about $1,056,000. 94.65% of the stock is owned by institutional investors and hedge funds.
RenaissanceRe stock opened at $167.01 on Thursday. RenaissanceRe Holdings Ltd. has a 1 year low of $117.35 and a 1 year high of $167.75. The company has a market capitalization of $7.25 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.40 and a beta of 0.52. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.24.
RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, May 7th. The insurance provider reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.40. RenaissanceRe had a net margin of 18.18% and a return on equity of 9.25%. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $738.70 million. During the same period in the previous year, the firm earned $1.42 earnings per share. RenaissanceRe’s revenue was up 40.1% compared to the same quarter last year. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 12.32 earnings per share for the current year.
In other RenaissanceRe news, SVP Ross Curtis sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.00, for a total transaction of $1,170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ian D. Branagan sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $160.00, for a total transaction of $320,000.00. Following the sale, the senior vice president now owns 50,617 shares of the company’s stock, valued at $8,098,720. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,250 shares of company stock valued at $3,118,463. 1.60% of the stock is owned by insiders.
A number of equities analysts have issued reports on the stock. Deutsche Bank lifted their target price on shares of RenaissanceRe from $167.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. ValuEngine upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Barclays lifted their target price on shares of RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Monday, April 1st. Finally, UBS Group lifted their target price on shares of RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $149.09.
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RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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