4,540 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,540 shares of the insurance provider’s stock, valued at approximately $1,015,000.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in RenaissanceRe in the 1st quarter valued at about $26,000. Blue Trust Inc. acquired a new position in shares of RenaissanceRe during the second quarter worth approximately $27,000. Rise Advisors LLC bought a new position in shares of RenaissanceRe in the 1st quarter worth $31,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe in the 2nd quarter valued at $31,000. Finally, Mather Group LLC. acquired a new position in RenaissanceRe during the first quarter worth $34,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Bank of America lifted their price target on RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Barclays assumed coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. Finally, Citigroup increased their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $272.60.

Insiders Place Their Bets

In other news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares in the company, valued at approximately $16,598,352.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 1.0 %

NYSE RNR opened at $263.67 on Friday. The business’s fifty day moving average is $242.87 and its 200-day moving average is $231.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 1.45 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $268.61.

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

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is 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.