Diversified Trust Co. Raises Holdings in RenaissanceRe Holdings Ltd. $RNR

Diversified Trust Co. raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 214.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,499 shares of the insurance provider’s stock after purchasing an additional 4,429 shares during the quarter. Diversified Trust Co.’s holdings in RenaissanceRe were worth $1,827,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Financial Consulate Inc. purchased a new position in shares of RenaissanceRe during the 3rd quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in RenaissanceRe by 151.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after buying an additional 79 shares during the period. Quarry LP raised its holdings in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC lifted its position in RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after buying an additional 94 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in RenaissanceRe in the third quarter valued at about $36,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $303.00 price target on shares of RenaissanceRe in a research report on Friday, December 5th. UBS Group restated a “neutral” rating and issued a $312.00 price objective on shares of RenaissanceRe in a report on Monday, February 9th. Keefe, Bruyette & Woods increased their price objective on shares of RenaissanceRe from $314.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. The Goldman Sachs Group reiterated a “sell” rating and issued a $267.00 target price on shares of RenaissanceRe in a report on Wednesday, January 7th. Finally, Evercore boosted their target price on RenaissanceRe from $283.00 to $291.00 and gave the company an “in-line” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $302.00.

RenaissanceRe Stock Performance

NYSE RNR opened at $293.29 on Thursday. The company has a market cap of $12.66 billion, a P/E ratio of 5.17, a P/E/G ratio of 0.69 and a beta of 0.21. 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 stock has a 50-day moving average of $292.18 and a two-hundred day moving average of $271.97. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $315.88.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $8.06 earnings per share. The business’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.41 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.89%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president 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 at this link. 1.30% of the stock is currently owned by company insiders.

About RenaissanceRe

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.