CIBC Asset Management Inc Purchases 53 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

CIBC Asset Management Inc lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,530 shares of the insurance provider’s stock after acquiring an additional 53 shares during the period. CIBC Asset Management Inc’s holdings in RenaissanceRe were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RNR. Impax Asset Management Group plc raised its holdings in 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. Cooke & Bieler LP lifted its holdings in RenaissanceRe by 9.2% in the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after buying an additional 86,562 shares during the period. Dimensional Fund Advisors LP boosted its position in RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after acquiring an additional 109,851 shares during the last quarter. Earnest Partners LLC grew its holdings in RenaissanceRe by 6.1% during the 1st quarter. Earnest Partners LLC now owns 578,139 shares of the insurance provider’s stock worth $135,880,000 after acquiring an additional 33,448 shares during the period. Finally, Great Lakes Advisors LLC raised its position in shares of RenaissanceRe by 3.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock worth $56,987,000 after acquiring an additional 7,718 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. This represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on RNR. Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays assumed coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. 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, JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $293.00.

RenaissanceRe Trading Up 0.2 %

Shares of NYSE RNR opened at $264.71 on Friday. The business’s 50 day moving average price is $268.59 and its 200-day moving average price is $244.37. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.33 and a beta of 0.39.

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. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter last year, the firm posted $8.33 EPS. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 40.57 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. RenaissanceRe’s dividend payout ratio is currently 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.