Creative Planning Acquires 996 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Creative Planning raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 71.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,383 shares of the insurance provider’s stock after acquiring an additional 996 shares during the quarter. Creative Planning’s holdings in RenaissanceRe were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RNR. Impax Asset Management Group plc lifted its holdings in RenaissanceRe by 7.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock worth $286,028,000 after buying an additional 91,425 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of RenaissanceRe by 9.2% during the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after acquiring an additional 86,562 shares during the period. Dimensional Fund Advisors LP boosted its holdings in RenaissanceRe by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after acquiring an additional 109,851 shares during the last quarter. Earnest Partners LLC increased its position in RenaissanceRe by 6.1% in the first quarter. Earnest Partners LLC now owns 578,139 shares of the insurance provider’s stock worth $135,880,000 after purchasing an additional 33,448 shares during the period. Finally, Great Lakes Advisors LLC lifted its position in RenaissanceRe by 3.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock valued at $56,987,000 after purchasing an additional 7,718 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays assumed coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price for the company. UBS Group cut their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company increased their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI lifted their target price on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley reduced their price target on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.00.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Stock Performance

NYSE RNR opened at $266.49 on Tuesday. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $284.36. The firm has a 50-day moving average price of $266.06 and a two-hundred day moving average price of $240.35. The company has a market capitalization of $13.90 billion, a P/E ratio of 5.27, a P/E/G ratio of 1.71 and a beta of 0.39. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

About RenaissanceRe

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.