Janney Montgomery Scott LLC Acquires 1,989 Shares of RenaissanceRe Holdings Ltd. $RNR

Janney Montgomery Scott LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 29.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,801 shares of the insurance provider’s stock after buying an additional 1,989 shares during the quarter. Janney Montgomery Scott LLC’s holdings in RenaissanceRe were worth $2,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lightrock Netherlands B.V. lifted its holdings in shares of RenaissanceRe by 4,690.1% in the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of RenaissanceRe during the 4th quarter valued at approximately $178,519,000. Norges Bank acquired a new position in RenaissanceRe during the 4th quarter worth approximately $168,582,000. Egerton Capital UK LLP acquired a new position in RenaissanceRe during the 4th quarter worth approximately $137,944,000. Finally, GQG Partners LLC bought a new position in RenaissanceRe in the 4th quarter valued at approximately $108,780,000. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. 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 research report on Thursday, April 30th. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and upped their price target for the stock from $335.00 to $345.00 in a report on Wednesday, June 10th. Weiss Ratings upgraded RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Cantor Fitzgerald upgraded 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. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $328.33.

RenaissanceRe Stock Down 0.2%

NYSE:RNR opened at $322.94 on Thursday. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $329.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $13.77 billion, a PE ratio of 5.38, a P/E/G ratio of 1.21 and a beta of 0.17. The firm’s 50 day simple moving average is $300.54 and its 200 day simple moving average is $295.34.

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. The firm had revenue of $2.19 billion during the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.19 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s dividend payout ratio is presently 2.73%.

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.