Mraz Amerine & Associates Inc. maintained its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the company’s stock at the end of the second quarter. Mraz Amerine & Associates Inc.’s holdings in RenaissanceRe Holdings were worth $235,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of RenaissanceRe Holdings during the fourth quarter worth $53,848,000. State Street Corp boosted its stake in shares of RenaissanceRe Holdings by 23.5% in the first quarter. State Street Corp now owns 2,477,658 shares of the company’s stock worth $296,905,000 after buying an additional 471,491 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of RenaissanceRe Holdings by 93.3% in the first quarter. Goldman Sachs Group Inc. now owns 552,128 shares of the company’s stock worth $66,162,000 after buying an additional 266,468 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of RenaissanceRe Holdings by 76.5% in the first quarter. Renaissance Technologies LLC now owns 435,715 shares of the company’s stock worth $52,212,000 after buying an additional 188,800 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of RenaissanceRe Holdings by 44.6% in the first quarter. TIAA CREF Investment Management LLC now owns 476,953 shares of the company’s stock worth $57,153,000 after buying an additional 147,000 shares during the last quarter. 94.78% of the stock is currently owned by institutional investors.
RenaissanceRe Holdings Ltd. (NYSE:RNR) traded up 0.88% during mid-day trading on Wednesday, reaching $121.40. The company had a trading volume of 174,016 shares. The company’s 50 day moving average is $118.86 and its 200 day moving average is $116.28. RenaissanceRe Holdings Ltd. has a 52-week low of $104.78 and a 52-week high of $122.97. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.31 and a beta of 0.49.
RenaissanceRe Holdings (NYSE:RNR) last announced its earnings results on Tuesday, July 26th. The company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.92 by $0.37. The business earned $483.30 million during the quarter, compared to analyst estimates of $410.83 million. RenaissanceRe Holdings had a return on equity of 9.41% and a net margin of 27.26%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 earnings per share. Equities analysts predict that RenaissanceRe Holdings Ltd. will post $7.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Tuesday, September 13th. RenaissanceRe Holdings’s payout ratio is currently 12.50%.
RNR has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price target on RenaissanceRe Holdings from $130.00 to $134.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Zacks Investment Research cut RenaissanceRe Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 14th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of RenaissanceRe Holdings in a research report on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $119.14.
In related news, SVP Rider Fonner Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $117.20, for a total value of $175,800.00. Following the completion of the transaction, the senior vice president now owns 68,253 shares in the company, valued at approximately $7,999,251.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Odonnell sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the transaction, the chief executive officer now owns 279,944 shares of the company’s stock, valued at approximately $32,140,370.64. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
RenaissanceRe Holdings Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.
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