Diversified Trust Co. Raises Holdings in RenaissanceRe Holdings Ltd. $RNR

Diversified Trust Co. raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 214.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,499 shares of the insurance provider’s stock after purchasing an additional 4,429 shares during the period. Diversified Trust Co.’s holdings in RenaissanceRe were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of RenaissanceRe during the second quarter worth about $139,543,000. AQR Capital Management LLC raised its holdings in RenaissanceRe by 154.5% in the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock valued at $99,769,000 after acquiring an additional 241,001 shares in the last quarter. Millennium Management LLC lifted its stake in RenaissanceRe by 347.6% in the third quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock worth $60,161,000 after acquiring an additional 183,988 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in RenaissanceRe by 152.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock worth $58,136,000 after acquiring an additional 144,547 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in RenaissanceRe by 330.0% during the 3rd quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock worth $44,277,000 after acquiring an additional 133,820 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of a number of analyst reports. Evercore raised their price objective on shares of RenaissanceRe from $283.00 to $291.00 and gave the company an “in-line” rating in a report on Wednesday, February 4th. TD Cowen boosted their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Cantor Fitzgerald increased 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. Citigroup raised their price target on RenaissanceRe from $328.00 to $333.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $312.00 price target on shares of RenaissanceRe in a report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $302.00.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $293.29 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $315.88. The firm’s 50 day moving average is $292.18 and its two-hundred day moving average is $271.97. The firm has a market capitalization of $12.66 billion, a P/E ratio of 5.17, a P/E/G ratio of 0.69 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.06 EPS. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.6%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, March 13th. RenaissanceRe’s dividend payout ratio is presently 2.89%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the company’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 owned 73,023 shares in the company, valued at $22,326,782.25. This represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.