KBC Group NV Purchases 198 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

KBC Group NV increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,362 shares of the insurance provider’s stock after acquiring an additional 198 shares during the period. KBC Group NV’s holdings in RenaissanceRe were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RNR. Oppenheimer & Co. Inc. acquired a new stake in RenaissanceRe in the 3rd quarter valued at about $231,000. Victory Capital Management Inc. raised its position in RenaissanceRe by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 23,011 shares of the insurance provider’s stock worth $6,268,000 after purchasing an additional 824 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in RenaissanceRe by 22.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,142 shares of the insurance provider’s stock worth $1,128,000 after buying an additional 766 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in RenaissanceRe in the 3rd quarter valued at $210,000. Finally, Bridges Investment Management Inc. increased its stake in shares of RenaissanceRe by 12.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 5,100 shares of the insurance provider’s stock valued at $1,389,000 after buying an additional 560 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RNR. Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Evercore ISI lifted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Bank of America lifted their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group increased their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $293.00.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares of the company’s stock, valued at $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Up 1.2 %

Shares of RenaissanceRe stock opened at $264.52 on Wednesday. The company has a market capitalization of $13.74 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50-day moving average of $268.19 and a two-hundred day moving average of $244.08. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s quarterly revenue was up 52.1% on a year-over-year basis. During the same period last year, the company posted $8.33 EPS. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is presently 2.25%.

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.