Vanguard Personalized Indexing Management LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,462 shares of the insurance provider’s stock after purchasing an additional 743 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in RenaissanceRe were worth $694,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in RenaissanceRe during the first quarter worth about $29,000. TCI Wealth Advisors Inc. raised its stake in RenaissanceRe by 73.4% during the first quarter. TCI Wealth Advisors Inc. now owns 163 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 69 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in RenaissanceRe during the fourth quarter worth about $38,000. Heritage Wealth Management LLC raised its stake in RenaissanceRe by 84.6% during the fourth quarter. Heritage Wealth Management LLC now owns 240 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 110 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in RenaissanceRe by 197.3% during the first quarter. Parallel Advisors LLC now owns 220 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on RNR shares. BMO Capital Markets raised RenaissanceRe from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $198.00 to $216.00 in a research note on Tuesday, July 11th. Bank of America lowered their price objective on RenaissanceRe from $275.00 to $266.00 and set a “buy” rating for the company in a research note on Monday, August 21st. TheStreet downgraded RenaissanceRe from a “b-” rating to a “c+” rating in a research note on Thursday, June 8th. Jefferies Financial Group raised RenaissanceRe from a “hold” rating to a “buy” rating and upped their price objective for the company from $234.00 to $238.00 in a research note on Thursday, May 25th. Finally, Morgan Stanley began coverage on RenaissanceRe in a research note on Tuesday, June 20th. They issued an “equal weight” rating and a $222.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $228.83.
RenaissanceRe Stock Performance
NYSE:RNR opened at $181.90 on Friday. The company has a market capitalization of $9.31 billion, a PE ratio of 22.74 and a beta of 0.42. The company has a 50 day simple moving average of $189.13 and a two-hundred day simple moving average of $197.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.41 and a current ratio of 1.41. RenaissanceRe Holdings Ltd. has a fifty-two week low of $128.00 and a fifty-two week high of $223.80.
RenaissanceRe (NYSE:RNR – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $8.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $1.21. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $1.96 billion. RenaissanceRe had a return on equity of 14.22% and a net margin of 5.60%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.51 EPS. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 25.47 earnings per share for the current year.
RenaissanceRe Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, September 14th. RenaissanceRe’s payout ratio is 19.00%.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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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