Kestra Private Wealth Services LLC Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Kestra Private Wealth Services LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,665 shares of the insurance provider’s stock, valued at approximately $522,000.

A number of other large investors have also made changes to their positions in RNR. Retirement Systems of Alabama grew its position in RenaissanceRe by 7.2% in the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock worth $24,666,000 after acquiring an additional 8,441 shares during the period. Earnest Partners LLC grew its position in RenaissanceRe by 2.9% in the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after acquiring an additional 15,692 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in RenaissanceRe by 95.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,915 shares of the insurance provider’s stock worth $3,348,000 after acquiring an additional 8,281 shares during the period. UBS Group AG grew its position in RenaissanceRe by 44.7% in the third quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock worth $4,139,000 after acquiring an additional 6,456 shares during the period. Finally, Royal London Asset Management Ltd. grew its position in RenaissanceRe by 3.6% in the third quarter. Royal London Asset Management Ltd. now owns 17,937 shares of the insurance provider’s stock worth $3,553,000 after acquiring an additional 619 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RNR. Evercore ISI upped their price target on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. TD Cowen started coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating on the stock. Finally, UBS Group raised their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $249.00.

RenaissanceRe Stock Performance

NYSE:RNR opened at $222.98 on Tuesday. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $11.79 billion, a PE ratio of 4.93, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The business’s fifty day moving average price is $226.35 and its 200 day moving average price is $216.32.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.16 EPS. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the sale, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

About RenaissanceRe

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.