Corient Private Wealth LLC Boosts Stock Position in RenaissanceRe Holdings Ltd. $RNR

Corient Private Wealth LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 36.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,630 shares of the insurance provider’s stock after acquiring an additional 3,091 shares during the quarter. Corient Private Wealth LLC’s holdings in RenaissanceRe were worth $3,270,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RNR. Hsbc Holdings PLC boosted its stake in shares of RenaissanceRe by 3,272.6% in the fourth quarter. Hsbc Holdings PLC now owns 28,195 shares of the insurance provider’s stock valued at $7,968,000 after purchasing an additional 27,359 shares during the period. Rehmann Capital Advisory Group lifted its holdings in RenaissanceRe by 22.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,729 shares of the insurance provider’s stock worth $488,000 after buying an additional 318 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in RenaissanceRe in the 4th quarter valued at approximately $38,000. Mercer Global Advisors Inc. ADV grew its stake in shares of RenaissanceRe by 21.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,021 shares of the insurance provider’s stock worth $849,000 after acquiring an additional 543 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in shares of RenaissanceRe by 2.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 40 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RNR has been the subject of several analyst reports. UBS Group boosted their target price on RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $306.00 to $340.00 in a research report on Thursday, April 9th. Wells Fargo & Company raised their target price on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Bank of America lowered their price target on shares of RenaissanceRe to $426.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Mizuho set a $325.00 price objective on shares of RenaissanceRe in a research report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average price target of $323.64.

RenaissanceRe Trading Up 4.0%

RNR opened at $319.30 on Friday. The business’s 50-day simple moving average is $298.90 and its 200-day simple moving average is $292.23. The company has a market cap of $13.61 billion, a P/E ratio of 5.32, a PEG ratio of 1.20 and a beta of 0.18. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $319.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion during the quarter. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.73%.

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.