abrdn plc Has $3.27 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

abrdn plc lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 135.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,677 shares of the insurance provider’s stock after purchasing an additional 9,607 shares during the period. abrdn plc’s holdings in RenaissanceRe were worth $3,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new stake in RenaissanceRe during the 4th quarter worth approximately $38,000. Daiwa Securities Group Inc. bought a new stake in shares of RenaissanceRe in the fourth quarter worth $39,000. VisionPoint Advisory Group LLC acquired a new stake in RenaissanceRe in the third quarter valued at $57,000. CWM LLC raised its position in RenaissanceRe by 200.0% during the 3rd quarter. CWM LLC now owns 636 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 424 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in RenaissanceRe during the 3rd quarter worth about $143,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen initiated coverage on RenaissanceRe in a research report on Wednesday, January 10th. They set a “market perform” rating for the company. BMO Capital Markets raised their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Evercore ISI boosted their price target on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group boosted their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. One equities research analyst has 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Trading Down 0.2 %

RNR opened at $219.08 on Monday. The company has a fifty day moving average price of $226.91 and a two-hundred day moving average price of $216.26. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The company has a market cap of $11.55 billion, a P/E ratio of 4.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.30. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, beating the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $7.33 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts predict that RenaissanceRe Holdings Ltd. will post 34.43 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. RenaissanceRe’s payout ratio is currently 3.05%.

Insider Transactions at RenaissanceRe

In related news, Director Carol P. Sanders sold 880 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now directly owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the transaction, the chief financial officer now directly owns 70,424 shares in the company, valued at $16,518,653.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $200,279.20. Following the completion of 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. Insiders have sold 4,130 shares of company stock valued at $958,429 over the last ninety days. 1.30% of the stock is owned by company insiders.

RenaissanceRe Profile

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.