Janney Montgomery Scott LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,169 shares of the insurance provider’s stock, valued at approximately $1,580,000.
Several other large investors also recently modified their holdings of the business. Motco bought a new position in shares of RenaissanceRe during the 2nd quarter valued at $25,000. Krane Funds Advisors LLC bought a new position in shares of RenaissanceRe during the 2nd quarter valued at $25,000. Clean Yield Group bought a new position in shares of RenaissanceRe during the 3rd quarter valued at $32,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of RenaissanceRe during the 2nd quarter valued at $75,000. Finally, Advisory Services Network LLC raised its holdings in shares of RenaissanceRe by 1,340.0% during the 2nd quarter. Advisory Services Network LLC now owns 432 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 402 shares in the last quarter. 95.39% of the stock is owned by institutional investors.
Shares of RNR opened at $184.36 on Friday. The company has a market capitalization of $8.12 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a one year low of $118.28 and a one year high of $195.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.58 and a quick ratio of 1.58. The company’s fifty day moving average price is $189.13 and its 200 day moving average price is $180.52.
RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 29th. The insurance provider reported $0.29 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.72). The firm had revenue of $704.13 million during the quarter, compared to the consensus estimate of $574.66 million. RenaissanceRe had a return on equity of 8.23% and a net margin of 17.32%. The business’s revenue was up 55.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 8.85 earnings per share for the current year.
RNR has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $154.00 to $187.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of RenaissanceRe from $164.00 to $193.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Barclays raised their price target on shares of RenaissanceRe from $165.00 to $175.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Co raised their price target on shares of RenaissanceRe from $175.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 target price on the stock in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $180.78.
In related news, SVP Jonathan Paradine sold 10,000 shares of RenaissanceRe stock in a transaction on Monday, November 4th. The shares were sold at an average price of $187.00, for a total value of $1,870,000.00. Following the transaction, the senior vice president now owns 50,108 shares in the company, valued at approximately $9,370,196. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.
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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