Ameritas Investment Partners Inc. Has $2.91 Million Position in RenaissanceRe Holdings Ltd. $RNR

Ameritas Investment Partners Inc. lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,991 shares of the insurance provider’s stock after selling 244 shares during the period. Ameritas Investment Partners Inc.’s holdings in RenaissanceRe were worth $2,913,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RNR. Hantz Financial Services Inc. raised its holdings in RenaissanceRe by 707.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after buying an additional 99 shares during the period. IFP Advisors Inc raised its holdings in shares of RenaissanceRe by 160.0% during the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 72 shares during the period. Huntington National Bank lifted its position in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Brooklyn Investment Group boosted its stake in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 88 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group lifted their price target on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Wolfe Research started coverage on RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Morgan Stanley boosted their target price on RenaissanceRe from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Citigroup started coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $284.50.

RenaissanceRe Stock Down 0.9%

Shares of RNR stock opened at $254.96 on Tuesday. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $290.78. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 2.08 and a beta of 0.25. The firm’s 50-day moving average is $254.96 and its 200-day moving average is $247.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 1.40.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.RenaissanceRe’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $10.23 earnings per share. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s payout ratio is presently 4.45%.

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.