Thrivent Financial for Lutherans Has $3.68 Million Holdings in RenaissanceRe Holdings Ltd. $RNR

Thrivent Financial for Lutherans increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 31.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,169 shares of the insurance provider’s stock after buying an additional 3,622 shares during the period. Thrivent Financial for Lutherans’ holdings in RenaissanceRe were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of RenaissanceRe by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock valued at $81,208,000 after buying an additional 3,070 shares during the last quarter. Amundi raised its holdings in RenaissanceRe by 18.0% in the 1st quarter. Amundi now owns 6,924 shares of the insurance provider’s stock valued at $1,699,000 after acquiring an additional 1,054 shares in the last quarter. Jane Street Group LLC lifted its position in shares of RenaissanceRe by 1,180.7% in the 1st quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock worth $17,812,000 after acquiring an additional 68,422 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of RenaissanceRe in the 2nd quarter worth approximately $4,980,000. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of RenaissanceRe by 276.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,882 shares of the insurance provider’s stock worth $1,186,000 after purchasing an additional 3,586 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on RNR. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research note on Monday, December 15th. BMO Capital Markets restated an “outperform” rating and issued a $303.00 price objective on shares of RenaissanceRe in a research note on Friday, December 5th. Cowen reiterated a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Mizuho began coverage on shares of RenaissanceRe in a research note on Monday, December 15th. They issued a “neutral” rating and a $281.00 target price on the stock. Finally, Barclays set a $278.00 price target on shares of RenaissanceRe in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $286.29.

RenaissanceRe Trading Up 1.3%

Shares of RNR stock opened at $278.38 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $278.80. The company has a market capitalization of $12.84 billion, a P/E ratio of 7.73, a P/E/G ratio of 1.64 and a beta of 0.26. The firm has a 50-day moving average price of $260.79 and a 200 day moving average price of $250.02. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm earned $10.23 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.