Board of the Pension Protection Fund Takes $457,000 Position in RenaissanceRe Holdings Ltd. $RNR

Board of the Pension Protection Fund bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,800 shares of the insurance provider’s stock, valued at approximately $457,000.

Several other large investors also recently bought and sold shares of RNR. Voya Investment Management LLC boosted its stake in shares of RenaissanceRe by 11.0% in the 3rd quarter. Voya Investment Management LLC now owns 9,639 shares of the insurance provider’s stock valued at $2,448,000 after buying an additional 957 shares during the period. Ausbil Investment Management Ltd purchased a new stake in shares of RenaissanceRe during the third quarter worth approximately $1,026,000. Wedmont Private Capital raised its holdings in RenaissanceRe by 17.6% in the third quarter. Wedmont Private Capital now owns 1,000 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 150 shares in the last quarter. Oak Thistle LLC lifted its stake in RenaissanceRe by 87.5% in the third quarter. Oak Thistle LLC now owns 1,785 shares of the insurance provider’s stock worth $453,000 after acquiring an additional 833 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in RenaissanceRe by 4.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,986 shares of the insurance provider’s stock worth $504,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RNR. Evercore ISI set a $244.00 price objective on shares of RenaissanceRe and gave the company an “in-line” rating in a report on Wednesday, October 1st. Cowen reissued a “hold” rating on shares of RenaissanceRe in a report on Tuesday, October 7th. Mizuho assumed coverage on RenaissanceRe in a report on Monday. They set a “neutral” rating and a $281.00 price target for the company. Zacks Research raised RenaissanceRe from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Wolfe Research started coverage on RenaissanceRe in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $286.29.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $278.38 on Friday. The stock’s 50-day moving average price is $260.79 and its 200 day moving average price is $250.02. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $12.84 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 1.61 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $278.80.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.49 by $6.13. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. RenaissanceRe’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.23 EPS. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared 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. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. RenaissanceRe’s dividend payout ratio is currently 4.45%.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.