Cerity Partners LLC Grows Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cerity Partners LLC grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 69.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,671 shares of the insurance provider’s stock after acquiring an additional 7,231 shares during the period. Cerity Partners LLC’s holdings in RenaissanceRe were worth $4,814,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bayesian Capital Management LP purchased a new position in RenaissanceRe in the first quarter worth about $259,000. Tidal Investments LLC increased its position in shares of RenaissanceRe by 94.8% during the 1st quarter. Tidal Investments LLC now owns 7,937 shares of the insurance provider’s stock valued at $1,865,000 after purchasing an additional 3,863 shares during the last quarter. Atria Investments Inc bought a new position in shares of RenaissanceRe during the 1st quarter valued at approximately $1,168,000. Cetera Advisors LLC bought a new stake in RenaissanceRe in the first quarter worth $201,000. Finally, Westwood Holdings Group Inc. boosted its stake in RenaissanceRe by 4.2% during the first quarter. Westwood Holdings Group Inc. now owns 54,866 shares of the insurance provider’s stock worth $12,895,000 after buying an additional 2,187 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RNR has been the topic of several recent analyst reports. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI boosted their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Citigroup increased their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.00.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at $22,338,836. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RNR opened at $285.44 on Friday. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 1.36 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The business’s fifty day simple moving average is $269.96 and its 200-day simple moving average is $246.02.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $8.33 EPS. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.55%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.