5,406 Shares in RenaissanceRe Holdings Ltd. $RNR Purchased by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the second quarter, Holdings Channel reports. The fund bought 5,406 shares of the insurance provider’s stock, valued at approximately $1,713,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of RenaissanceRe by 39.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock valued at $2,325,000 after acquiring an additional 2,737 shares during the period. Millennium Management LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $15,289,000. Jones Financial Companies Lllp lifted its stake in RenaissanceRe by 900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 1,215 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after purchasing an additional 24,027 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in RenaissanceRe by 18.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 69 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent analyst reports. Wolfe Research set a $315.00 price target on shares of RenaissanceRe in a research report on Tuesday, July 7th. Evercore set a $330.00 price objective on RenaissanceRe in a research note on Thursday, July 23rd. Barclays upped their target price on RenaissanceRe from $328.00 to $341.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price target on RenaissanceRe from $306.00 to $329.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $336.33.

RenaissanceRe Stock Up 0.6%

Shares of NYSE:RNR opened at $324.18 on Friday. The firm has a market capitalization of $13.47 billion, a PE ratio of 5.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $335.97. The firm has a fifty day moving average of $317.81 and a 200 day moving average of $305.13.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The business had revenue of $2.77 billion for the quarter. As a group, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.4 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.81%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the sale, the executive vice president owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by 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.