GQG Partners LLC Takes Position in RenaissanceRe Holdings Ltd. $RNR

GQG Partners LLC acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 584,871 shares of the insurance provider’s stock, valued at approximately $185,351,000. GQG Partners LLC owned approximately 1.41% of RenaissanceRe as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingdom Financial Group LLC. bought a new position in shares of RenaissanceRe during the 4th quarter worth approximately $36,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in RenaissanceRe in the second quarter valued at $42,000. Quarry LP grew its position in RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its stake in RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in RenaissanceRe during the fourth quarter worth $38,000. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RNR shares. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of RenaissanceRe in a report on Thursday, July 23rd. Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays lifted their price objective on RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company boosted their price objective on RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $336.33.

RenaissanceRe Stock Up 0.6%

Shares of NYSE RNR opened at $324.18 on Friday. The firm has a market capitalization of $13.47 billion, a PE ratio of 5.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.17. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $335.97. The firm’s 50-day moving average is $317.81 and its 200-day moving average is $305.13.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The company had revenue of $2.77 billion during the quarter. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, September 15th. RenaissanceRe’s dividend payout ratio (DPR) is 2.81%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the sale, the executive vice president owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.