New York Life Investment Management LLC Has $1.13 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

New York Life Investment Management LLC lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,747 shares of the insurance provider’s stock after purchasing an additional 479 shares during the quarter. New York Life Investment Management LLC’s holdings in RenaissanceRe were worth $1,126,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RNR. Raymond James & Associates raised its position in shares of RenaissanceRe by 83.6% during the third quarter. Raymond James & Associates now owns 52,188 shares of the insurance provider’s stock worth $10,329,000 after purchasing an additional 23,767 shares during the period. New York State Teachers Retirement System raised its position in shares of RenaissanceRe by 0.4% during the third quarter. New York State Teachers Retirement System now owns 50,548 shares of the insurance provider’s stock worth $10,004,000 after purchasing an additional 185 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in RenaissanceRe by 26.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,391 shares of the insurance provider’s stock valued at $1,661,000 after buying an additional 1,744 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $631,000. Finally, Whittier Trust Co. raised its position in RenaissanceRe by 3.4% in the 3rd quarter. Whittier Trust Co. now owns 15,128 shares of the insurance provider’s stock valued at $2,994,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Up 0.9 %

NYSE:RNR opened at $225.01 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a twelve month low of $174.22 and a twelve month high of $239.42. The stock’s 50 day moving average price is $226.33 and its two-hundred day moving average price is $216.37. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, topping the consensus estimate of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $8.16 EPS. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current fiscal year.

Insider Transactions at RenaissanceRe

In other news, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the transaction, the director now directly owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RNR. TD Cowen began coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. BMO Capital Markets lifted their target price on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. UBS Group lifted their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Finally, Evercore ISI lifted their target price on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $249.00.

RenaissanceRe 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.