RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Fmr LLC

Fmr LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,687 shares of the insurance provider’s stock after buying an additional 326 shares during the period. Fmr LLC’s holdings in RenaissanceRe were worth $732,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Impax Asset Management Group plc raised its position in shares of RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after purchasing an additional 415,366 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after buying an additional 109,851 shares during the period. Cooke & Bieler LP increased its holdings in RenaissanceRe by 9.2% in the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after purchasing an additional 86,562 shares during the last quarter. Assetmark Inc. grew its stake in shares of RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after buying an additional 43,384 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of RenaissanceRe by 480.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider’s stock valued at $9,326,000 after buying an additional 34,534 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the 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 approximately $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Barclays started coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. Bank of America upped their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.00.

RenaissanceRe Stock Down 1.9 %

Shares of NYSE RNR opened at $255.19 on Wednesday. The business has a 50-day moving average of $272.33 and a two-hundred day moving average of $250.96. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 3.68, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 1 year low of $190.89 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

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

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.61%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

About RenaissanceRe

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.