Delphi Management Inc. MA Boosts Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Delphi Management Inc. MA boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,512 shares of the insurance provider’s stock after acquiring an additional 161 shares during the quarter. Delphi Management Inc. MA’s holdings in RenaissanceRe were worth $1,679,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RNR. Riverview Trust Co purchased a new stake in shares of RenaissanceRe in the 1st quarter worth $26,000. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe in the 2nd quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of RenaissanceRe in the 1st quarter worth $31,000. V Square Quantitative Management LLC purchased a new stake in shares of RenaissanceRe in the 2nd quarter worth $31,000. Finally, Mather Group LLC. purchased a new stake in shares of RenaissanceRe in the 1st quarter worth $34,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RNR shares. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Bank of America upped their price objective on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley decreased their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Citigroup upped their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $272.60.

Insider Activity

In other news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,500 shares of company stock valued at $1,060,400. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 1.1 %

Shares of NYSE:RNR opened at $272.40 on Tuesday. The business’s 50-day moving average is $247.60 and its 200 day moving average is $232.74. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $272.73. The firm has a market capitalization of $14.21 billion, a P/E ratio of 6.02, a P/E/G ratio of 1.44 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

RenaissanceRe Profile

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.