BNP Paribas Financial Markets Increases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

BNP Paribas Financial Markets grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,261 shares of the insurance provider’s stock after purchasing an additional 632 shares during the quarter. BNP Paribas Financial Markets’ holdings in RenaissanceRe were worth $3,067,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Impax Asset Management Group plc increased its holdings in shares of RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after purchasing an additional 415,366 shares during the last quarter. Cooke & Bieler LP lifted its holdings in RenaissanceRe by 9.2% in 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 last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after purchasing an additional 109,851 shares during the last quarter. Great Lakes Advisors LLC lifted its position in RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock valued at $56,987,000 after buying an additional 7,718 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its stake in RenaissanceRe by 12.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider’s stock worth $50,910,000 after buying an additional 25,760 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America raised their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lowered their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Evercore ISI boosted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $293.00.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $287.06 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $272.25 and a 200-day simple moving average of $248.15. The stock has a market cap of $14.91 billion, a P/E ratio of 4.10, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm posted $8.33 EPS. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.54%. RenaissanceRe’s payout ratio is currently 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.