LS Investment Advisors LLC boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 26.2% during the second quarter, Holdings Channel reports. The firm owned 7,367 shares of the company’s stock after buying an additional 1,528 shares during the period. LS Investment Advisors LLC’s holdings in RenaissanceRe Holdings were worth $865,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Middleton & Co Inc MA boosted its position in RenaissanceRe Holdings by 32.6% in the second quarter. Middleton & Co Inc MA now owns 61,578 shares of the company’s stock valued at $7,232,000 after buying an additional 15,143 shares during the period. TIAA CREF Trust Co. FSB MO purchased a new position in RenaissanceRe Holdings during the second quarter valued at approximately $1,304,000. Acadian Asset Management LLC boosted its position in RenaissanceRe Holdings by 119.4% in the second quarter. Acadian Asset Management LLC now owns 14,967 shares of the company’s stock valued at $1,757,000 after buying an additional 8,144 shares during the period. State of Alaska Department of Revenue boosted its position in RenaissanceRe Holdings by 6.9% in the second quarter. State of Alaska Department of Revenue now owns 6,965 shares of the company’s stock valued at $817,000 after buying an additional 449 shares during the period. Finally, Marathon Asset Management LLP boosted its position in RenaissanceRe Holdings by 2.0% in the second quarter. Marathon Asset Management LLP now owns 261,298 shares of the company’s stock valued at $30,685,000 after buying an additional 5,055 shares during the period. Institutional investors own 94.78% of the company’s stock.
Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) traded up 1.84% on Wednesday, hitting $123.05. 259,879 shares of the stock traded hands. The firm has a market cap of $5.07 billion, a P/E ratio of 12.48 and a beta of 0.49. The firm’s 50-day moving average is $119.65 and its 200 day moving average is $116.61. RenaissanceRe Holdings Ltd. has a 12-month low of $107.27 and a 12-month high of $123.16.
RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.55 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 EPS. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post $7.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, September 13th. RenaissanceRe Holdings’s dividend payout ratio is presently 12.50%.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Keefe, Bruyette & Woods boosted their price target on shares of RenaissanceRe Holdings from $130.00 to $134.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of RenaissanceRe Holdings in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $119.14.
In other RenaissanceRe Holdings news, CEO Kevin Odonnell sold 3,000 shares of RenaissanceRe Holdings stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $120.28, for a total value of $360,840.00. Following the completion of the transaction, the chief executive officer now owns 270,944 shares of the company’s stock, valued at $32,589,144.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rider Fonner Todd sold 1,500 shares of RenaissanceRe Holdings stock in a transaction on Monday, August 1st. The stock was sold at an average price of $117.20, for a total transaction of $175,800.00. Following the completion of the transaction, the senior vice president now directly owns 68,253 shares of the company’s stock, valued at approximately $7,999,251.60. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company 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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