RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by M&T Bank Corp

M&T Bank Corp increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) by 22.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,310 shares of the insurance provider’s stock after acquiring an additional 416 shares during the quarter. M&T Bank Corp’s holdings in RenaissanceRe were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in RenaissanceRe in the second quarter valued at $31,000. Oak Thistle LLC purchased a new stake in RenaissanceRe during the second quarter worth about $203,000. Hightower 6M Holding LLC purchased a new stake in RenaissanceRe during the first quarter worth about $209,000. Lido Advisors LLC purchased a new stake in RenaissanceRe during the first quarter worth about $222,000. Finally, Versor Investments LP purchased a new stake in shares of RenaissanceRe in the first quarter valued at about $223,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 0.2 %

NYSE:RNR opened at $174.59 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.28. RenaissanceRe Holdings Ltd. has a 12 month low of $124.18 and a 12 month high of $187.88. The company’s 50 day moving average is $148.29 and its 200-day moving average is $145.45. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of -5.59 and a beta of 0.36.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, December 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. RenaissanceRe’s dividend payout ratio (DPR) is currently -4.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RNR shares. Morgan Stanley reduced their price objective on shares of RenaissanceRe from $162.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Friday, August 19th. Wells Fargo & Company increased their price objective on shares of RenaissanceRe from $171.00 to $184.00 in a research note on Thursday, November 3rd. Finally, StockNews.com downgraded RenaissanceRe from a “hold” rating to a “sell” rating in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $165.33.

RenaissanceRe Profile

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RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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