RenaissanceRe Holdings Ltd. $RNR Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 31.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,169 shares of the insurance provider’s stock after acquiring an additional 3,622 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RenaissanceRe were worth $3,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock worth $106,000 after buying an additional 42 shares during the period. Benedict Financial Advisors Inc. lifted its position in shares of RenaissanceRe by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after acquiring an additional 42 shares in the last quarter. Rossby Financial LCC boosted its stake in RenaissanceRe by 6.2% in the 2nd quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 49 shares during the period. Huntington National Bank grew its position in RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 56 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 1.3%

Shares of RenaissanceRe stock opened at $278.38 on Friday. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 1.64 and a beta of 0.26. The stock has a 50-day simple moving average of $260.79 and a 200-day simple moving average of $250.02. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $278.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40.

RenaissanceRe (NYSE:RNR) last released 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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. RenaissanceRe’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.23 EPS. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on RenaissanceRe from $278.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Wolfe Research assumed coverage on RenaissanceRe in a research report on Monday, September 15th. They set a “peer perform” rating for the company. Evercore ISI set a $244.00 target price on RenaissanceRe and gave the company an “in-line” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $303.00 price target on shares of RenaissanceRe in a research report on Thursday, October 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $300.00 price target on shares of RenaissanceRe in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $286.29.

RenaissanceRe Company 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.