Mitsubishi UFJ Trust & Banking Corp Buys 2,641 Shares of RenaissanceRe Holdings Ltd. $RNR

Mitsubishi UFJ Trust & Banking Corp increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 156.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,324 shares of the insurance provider’s stock after buying an additional 2,641 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in RenaissanceRe were worth $1,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Financial Consulate Inc. purchased a new position in shares of RenaissanceRe during the 3rd quarter worth about $29,000. IFP Advisors Inc grew its holdings in RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 72 shares during the last quarter. Huntington National Bank raised its position in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of 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. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RNR shares. Evercore ISI increased their price target on RenaissanceRe from $250.00 to $283.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Cantor Fitzgerald upped their price objective on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, Zacks Research downgraded shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $298.07.

RenaissanceRe Trading Down 0.5%

NYSE:RNR opened at $281.19 on Friday. The firm has a 50-day simple moving average of $272.57 and a 200-day simple moving average of $257.16. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $285.26. The firm has a market cap of $12.97 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.96 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.

RenaissanceRe Dividend Announcement

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

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.