RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Reduced by HB Wealth Management LLC

HB Wealth Management LLC decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,825 shares of the insurance provider’s stock after selling 966 shares during the period. HB Wealth Management LLC’s holdings in RenaissanceRe were worth $1,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in RenaissanceRe by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after purchasing an additional 120,302 shares during the last quarter. BlackRock Inc. boosted its holdings in RenaissanceRe by 10.8% during the second quarter. BlackRock Inc. now owns 4,503,190 shares of the insurance provider’s stock worth $839,935,000 after buying an additional 440,083 shares in the last quarter. Capital World Investors boosted its holdings in RenaissanceRe by 5.4% during the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after buying an additional 129,891 shares in the last quarter. State Street Corp boosted its holdings in RenaissanceRe by 4.4% during the second quarter. State Street Corp now owns 2,197,056 shares of the insurance provider’s stock worth $409,795,000 after buying an additional 93,549 shares in the last quarter. Finally, Boston Partners boosted its holdings in RenaissanceRe by 7.1% during the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after buying an additional 135,861 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. UBS Group raised their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Evercore ISI initiated coverage on shares of RenaissanceRe in a report on Thursday, December 14th. They set an “underperform” rating and a $200.00 target price for the company. Finally, TD Cowen initiated coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $240.90.

View Our Latest Research Report on RenaissanceRe

Insiders Place Their Bets

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total value of $586,400.00. Following the transaction, the chief financial officer now directly owns 70,424 shares in the company, valued at approximately $16,518,653.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at $1,220,565.17. The disclosure for this sale can be found here. Insiders sold a total of 5,130 shares of company stock worth $1,167,479 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Up 1.6 %

RNR stock opened at $232.16 on Tuesday. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 4.53, a PEG ratio of 2.55 and a beta of 0.30. The company has a 50 day moving average of $224.78 and a two-hundred day moving average of $212.59.

RenaissanceRe (NYSE:RNRGet Free Report) last released its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $7.33 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.35 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.39 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.67%. RenaissanceRe’s dividend payout ratio is presently 3.05%.

RenaissanceRe Company Profile

(Free Report)

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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