VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stake in RenaissanceRe Holdings Ltd. $RNR

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1,002.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,737 shares of the insurance provider’s stock after acquiring an additional 13,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in RenaissanceRe were worth $3,742,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its position in RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 72 shares during the period. Huntington National Bank boosted its holdings in shares of RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Farther Finance Advisors LLC grew its position in RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after buying an additional 79 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in RenaissanceRe by 43.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after buying an additional 56 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.9%

RNR opened at $281.14 on Friday. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 1.65 and a beta of 0.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s fifty day moving average is $266.06 and its 200 day moving average is $252.28. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $285.26.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business posted $10.23 EPS. RenaissanceRe’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $303.00 price target on shares of RenaissanceRe in a research report on Thursday, October 9th. The Goldman Sachs Group assumed coverage on RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $300.00 target price on shares of RenaissanceRe in a report on Tuesday, December 16th. Mizuho initiated coverage on RenaissanceRe in a report on Monday, December 15th. They set a “neutral” rating and a $281.00 price target for the company. Finally, Cowen restated a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. One investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $286.29.

RenaissanceRe Profile

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.