Principal Financial Group Inc. Has $26.54 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Principal Financial Group Inc. cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,497 shares of the insurance provider’s stock after selling 5,778 shares during the quarter. Principal Financial Group Inc.’s holdings in RenaissanceRe were worth $26,535,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in shares of RenaissanceRe by 707.1% during the 2nd 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. acquired a new position in shares of RenaissanceRe during the third quarter valued at about $29,000. IFP Advisors Inc boosted its position in shares of RenaissanceRe by 160.0% during 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 in the last quarter. 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 purchasing an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of RenaissanceRe by 151.9% in the 3rd 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. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares of the company’s stock, valued at $22,326,782.25. This trade represents a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $301.19 on Friday. The company has a market capitalization of $13.89 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.76 and a beta of 0.24. The business has a fifty day simple moving average of $276.11 and a two-hundred day simple moving average of $259.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.40. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $310.80.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the business earned $8.06 earnings per share. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RNR shares. Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. Wells Fargo & Company upped their price objective on shares of RenaissanceRe from $281.00 to $306.00 and gave the stock an “equal weight” rating in a report on Thursday. Zacks Research lowered shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Evercore boosted their target price on shares of RenaissanceRe from $283.00 to $291.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $303.00 price target on shares of RenaissanceRe in a research report on Friday, December 5th. Five research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $303.33.

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.