Oakbrook Investments LLC raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,525 shares of the insurance provider’s stock after purchasing an additional 75 shares during the period. Oakbrook Investments LLC’s holdings in RenaissanceRe were worth $805,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Great West Life Assurance Co. Can grew its holdings in shares of RenaissanceRe by 9.7% during the first quarter. Great West Life Assurance Co. Can now owns 65,143 shares of the insurance provider’s stock worth $9,326,000 after buying an additional 5,772 shares in the last quarter. Toronto Dominion Bank grew its holdings in RenaissanceRe by 33.7% in the first quarter. Toronto Dominion Bank now owns 7,249 shares of the insurance provider’s stock valued at $1,040,000 after purchasing an additional 1,829 shares during the period. First Trust Advisors LP grew its holdings in RenaissanceRe by 339.5% in the first quarter. First Trust Advisors LP now owns 64,938 shares of the insurance provider’s stock valued at $9,319,000 after purchasing an additional 50,162 shares during the period. Dalton Greiner Hartman Maher & Co. purchased a new stake in RenaissanceRe in the first quarter valued at approximately $12,828,000. Finally, Advisor Group Inc. grew its holdings in RenaissanceRe by 23.2% in the fourth quarter. Advisor Group Inc. now owns 1,574 shares of the insurance provider’s stock valued at $211,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.
In other news, SVP Ross Curtis sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.00, for a total transaction of $1,170,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ian D. Branagan sold 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $170.00, for a total transaction of $340,000.00. Following the transaction, the senior vice president now directly owns 48,617 shares in the company, valued at $8,264,890. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,500 shares of company stock worth $5,016,600. 1.60% of the stock is currently owned by corporate insiders.
RNR stock traded up $0.17 during midday trading on Tuesday, reaching $178.18. 18,534 shares of the company’s stock traded hands, compared to its average volume of 318,938. The company has a market cap of $7.86 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. RenaissanceRe Holdings Ltd. has a fifty-two week low of $118.28 and a fifty-two week high of $187.58. The stock’s 50-day simple moving average is $180.45.
RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.40. The firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $738.70 million. RenaissanceRe had a net margin of 18.18% and a return on equity of 9.25%. RenaissanceRe’s revenue was up 40.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 13.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.76%. RenaissanceRe’s dividend payout ratio (DPR) is 14.83%.
A number of equities research analysts recently issued reports on RNR shares. UBS Group boosted their target price on shares of Verisk Analytics from $106.00 to $111.00 and gave the company a “sell” rating in a report on Tuesday, April 9th. Wells Fargo & Co set a $33.00 target price on shares of Matador Resources and gave the company a “hold” rating in a report on Thursday, July 11th. Barclays restated a “sell” rating on shares of RenaissanceRe in a report on Tuesday, July 2nd. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Hudson Technologies from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $160.00.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including 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, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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