Northwestern Mutual Wealth Management Co. Acquires 64 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Northwestern Mutual Wealth Management Co. raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 342 shares of the insurance provider’s stock after purchasing an additional 64 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in RenaissanceRe were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of RenaissanceRe during the first quarter valued at approximately $46,000. Royal London Asset Management Ltd. boosted its position in RenaissanceRe by 38.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after buying an additional 6,874 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of RenaissanceRe in the 2nd quarter valued at $2,887,000. Russell Investments Group Ltd. raised its position in shares of RenaissanceRe by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after acquiring an additional 3,962 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of RenaissanceRe during the first quarter valued at $744,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR opened at $275.55 on Friday. The company has a fifty day simple moving average of $255.54 and a 200 day simple moving average of $235.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market cap of $14.37 billion, a P/E ratio of 5.45, a P/E/G ratio of 1.70 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $283.86.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 39.55 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s payout ratio is currently 3.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RNR. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, September 6th. UBS Group dropped their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company raised their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays started 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. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.00.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP David E. Marra sold 1,000 shares of the firm’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 value of $279,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Qutub sold 2,500 shares of the business’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 value of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,500 shares of company stock worth $1,339,400 over the last quarter. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Company 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.