Fulton Bank N.A. raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,496 shares of the insurance provider’s stock after purchasing an additional 363 shares during the quarter. Fulton Bank N.A.’s holdings in RenaissanceRe were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of RNR. Heritage Wealth Management LLC bought a new position in shares of RenaissanceRe during the 2nd quarter worth $28,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of RenaissanceRe during the 3rd quarter worth $28,000. Neo Ivy Capital Management bought a new position in shares of RenaissanceRe during the 3rd quarter worth $29,000. Wipfli Financial Advisors LLC bought a new position in shares of RenaissanceRe during the 3rd quarter worth $34,000. Finally, Signaturefd LLC grew its stake in shares of RenaissanceRe by 64.4% during the 3rd quarter. Signaturefd LLC now owns 240 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares during the period. Institutional investors own 95.52% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. TheStreet upgraded RenaissanceRe from a “c+” rating to a “b” rating in a research note on Tuesday, January 31st. Wells Fargo & Company increased their price objective on RenaissanceRe from $234.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. BMO Capital Markets initiated coverage on RenaissanceRe in a report on Thursday, January 19th. They set a “market perform” rating and a $187.00 price objective on the stock. StockNews.com initiated coverage on RenaissanceRe in a report on Thursday. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price objective on RenaissanceRe from $150.00 to $195.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $197.25.
RenaissanceRe Price Performance
Shares of RNR stock opened at $188.99 on Friday. The firm has a market cap of $8.26 billion, a P/E ratio of -7.37 and a beta of 0.42. RenaissanceRe Holdings Ltd. has a fifty-two week low of $124.18 and a fifty-two week high of $223.80. The business’s 50 day moving average price is $203.81 and its 200-day moving average price is $176.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.29.
RenaissanceRe (NYSE:RNR – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The insurance provider reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $0.75. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. RenaissanceRe had a positive return on equity of 7.36% and a negative net margin of 20.97%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $4.71 EPS. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 23.52 earnings per share for the current year.
RenaissanceRe Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.37. RenaissanceRe’s dividend payout ratio (DPR) is presently -5.93%.
RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following business segments: Property, Casualty and Specialty, and Other. The Property segment focuses on catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance, and insurance.
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