Skandinaviska Enskilda Banken AB publ Has $9.53 Million Holdings in RenaissanceRe Holdings Ltd. $RNR

Skandinaviska Enskilda Banken AB publ lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2,472.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,528 shares of the insurance provider’s stock after purchasing an additional 36,069 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.08% of RenaissanceRe worth $9,529,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Hantz Financial Services Inc. raised its holdings in RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after buying an additional 99 shares during the last quarter. IFP Advisors Inc raised its holdings 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 acquiring an additional 72 shares during the last quarter. Financial Consulate Inc. acquired a new stake in shares of RenaissanceRe in the 3rd quarter worth about $29,000. Huntington National Bank lifted its position in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in RenaissanceRe by 151.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RNR shares. Cantor Fitzgerald raised their target price on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. The Goldman Sachs Group restated a “sell” rating and set a $267.00 price objective on shares of RenaissanceRe in a research note on Wednesday, January 7th. Barclays upped their target price on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $314.00 to $323.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Finally, Mizuho boosted their price target on shares of RenaissanceRe from $277.00 to $313.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $309.60.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $303.73 on Thursday. The company has a market capitalization of $13.21 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.24. The company’s 50-day moving average is $281.95 and its 200 day moving average is $262.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $315.88.

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

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.41 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.82%.

RenaissanceRe Company 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.