Cwm LLC Has $693,000 Position in RenaissanceRe Holdings Ltd. $RNR

Cwm LLC raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 241.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,728 shares of the insurance provider’s stock after buying an additional 1,929 shares during the quarter. Cwm LLC’s holdings in RenaissanceRe were worth $693,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in RenaissanceRe by 1.2% in the third quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock valued at $852,000 after purchasing an additional 40 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of RenaissanceRe by 10.5% in the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after buying an additional 42 shares in the last quarter. Benedict Financial Advisors Inc. lifted its holdings in shares of RenaissanceRe by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock worth $3,055,000 after acquiring an additional 42 shares during the period. Rossby Financial LCC lifted its holdings in shares of RenaissanceRe by 6.2% during the 2nd quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 49 shares during the period. Finally, Huntington National Bank boosted its position in shares of RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.6%

Shares of NYSE RNR opened at $273.70 on Thursday. The company has a 50 day simple moving average of $268.67 and a 200 day simple moving average of $253.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $285.26. The firm has a market cap of $12.62 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 6.47 and a beta of 0.26.

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

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s payout ratio is presently 4.45%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RNR shares. Morgan Stanley restated an “overweight” rating and set a $300.00 target price on shares of RenaissanceRe in a research note on Tuesday, December 16th. The Goldman Sachs Group restated a “sell” rating and set a $267.00 price objective on shares of RenaissanceRe in a research report on Wednesday. Mizuho began coverage on RenaissanceRe in a research report on Monday, December 15th. They issued a “neutral” rating and a $281.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $303.00 target price on shares of RenaissanceRe in a report on Friday, December 5th. Finally, Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $294.93.

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.