5,239 Shares in RenaissanceRe Holdings Ltd. $RNR Purchased by Invst LLC

Invst LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,239 shares of the insurance provider’s stock, valued at approximately $1,660,000.

Several other institutional investors also recently bought and sold shares of the company. Horizon Investments LLC grew its holdings in shares of RenaissanceRe by 247,520.0% in the fourth quarter. Horizon Investments LLC now owns 24,762 shares of the insurance provider’s stock valued at $6,962,000 after purchasing an additional 24,752 shares in the last quarter. Candriam S.C.A. purchased a new stake in RenaissanceRe during the 1st quarter worth approximately $6,202,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in RenaissanceRe by 60.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,958 shares of the insurance provider’s stock worth $1,956,000 after buying an additional 2,634 shares in the last quarter. Estate Counselors LLC acquired a new stake in RenaissanceRe during the 4th quarter worth approximately $2,946,000. Finally, Delta Global Management LP purchased a new position in RenaissanceRe in the 1st quarter valued at approximately $1,754,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RNR. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $329.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. TD Cowen boosted their target price on RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. Finally, UBS Group set a $349.00 price target on RenaissanceRe and gave the company a “neutral” rating in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $336.33.

RenaissanceRe Stock Down 0.0%

RNR stock opened at $329.35 on Wednesday. The stock has a market cap of $13.68 billion, a P/E ratio of 5.65, a PEG ratio of 1.20 and a beta of 0.17. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $335.97. The company’s 50 day moving average is $319.02 and its two-hundred day moving average is $305.78.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share (EPS) for the quarter. The business had revenue of $2.77 billion during the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 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, September 30th. Investors of record on Tuesday, September 15th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s payout ratio is 2.81%.

Insider Transactions at RenaissanceRe

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