American Century Companies Inc. Purchases 19,631 Shares of RenaissanceRe Holdings Ltd. $RNR

American Century Companies Inc. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,437 shares of the insurance provider’s stock after buying an additional 19,631 shares during the period. American Century Companies Inc. owned about 0.36% of RenaissanceRe worth $41,756,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in RenaissanceRe during the 2nd quarter worth $139,543,000. JPMorgan Chase & Co. grew its position in shares of RenaissanceRe by 152.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock valued at $58,136,000 after buying an additional 144,547 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after buying an additional 122,732 shares during the period. Bank of America Corp DE raised its position in shares of RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after acquiring an additional 120,063 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of RenaissanceRe by 111.8% during the second quarter. Mackenzie Financial Corp now owns 167,420 shares of the insurance provider’s stock worth $40,666,000 after acquiring an additional 88,367 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Up 0.4%

RNR opened at $298.89 on Friday. The business has a 50 day simple moving average of $287.77 and a two-hundred day simple moving average of $267.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 0.69 and a beta of 0.21. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $315.88.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, topping the consensus estimate of $10.59 by $2.75. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $8.06 earnings per share. Analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, March 13th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.82%.

Analyst Ratings Changes

Several research firms have issued reports on RNR. The Goldman Sachs Group restated a “sell” rating and set a $267.00 price target on shares of RenaissanceRe in a report on Wednesday, January 7th. UBS Group reiterated a “neutral” rating and set a $312.00 price objective on shares of RenaissanceRe in a research report on Monday, February 9th. Zacks Research downgraded shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Finally, Cantor Fitzgerald upped their price target on shares of RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $310.27.

Insider Buying and Selling

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the sale, the executive vice president directly owned 73,023 shares of the company’s stock, valued at $22,326,782.25. This trade represents a 6.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

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.