Chicago Equity Partners LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the second quarter, Holdings Channel reports. The institutional investor bought 9,380 shares of the insurance provider’s stock, valued at approximately $1,129,000.
Several other large investors have also recently bought and sold shares of RNR. Daiwa SB Investments Ltd. raised its stake in shares of RenaissanceRe by 43.6% in the second quarter. Daiwa SB Investments Ltd. now owns 1,450 shares of the insurance provider’s stock valued at $174,000 after acquiring an additional 440 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of RenaissanceRe in the first quarter valued at approximately $207,000. Chilton Capital Management LLC bought a new position in shares of RenaissanceRe in the first quarter valued at approximately $208,000. Cigna Investments Inc. New bought a new position in shares of RenaissanceRe in the first quarter valued at approximately $218,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of RenaissanceRe by 38.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,689 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 471 shares during the last quarter. Institutional investors own 94.77% of the company’s stock.
RNR stock opened at $132.51 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.64 and a quick ratio of 1.64. RenaissanceRe Holdings Ltd. has a fifty-two week low of $116.50 and a fifty-two week high of $141.77. The company has a market capitalization of $5.35 billion, a P/E ratio of -15.87, a P/E/G ratio of 1.04 and a beta of 0.59.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 24th. The insurance provider reported $5.23 earnings per share for the quarter, topping the consensus estimate of $2.94 by $2.29. RenaissanceRe had a negative net margin of 11.73% and a negative return on equity of 3.54%. The firm had revenue of $604.50 million during the quarter, compared to analysts’ expectations of $556.85 million. During the same quarter in the previous year, the company posted $2.79 EPS. RenaissanceRe’s revenue was up 8.8% on a year-over-year basis. sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 13.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently -15.81%.
Several research analysts recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of RenaissanceRe in a research report on Monday, June 18th. They issued a “neutral” rating and a $131.00 price objective for the company. Citigroup boosted their price objective on shares of RenaissanceRe from $144.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $142.00.
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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