ProShare Advisors LLC Acquires 8,464 Shares of RenaissanceRe Holdings Ltd. $RNR

ProShare Advisors LLC grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,898 shares of the insurance provider’s stock after buying an additional 8,464 shares during the period. ProShare Advisors LLC owned 0.32% of RenaissanceRe worth $37,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in RenaissanceRe by 1.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock valued at $852,000 after purchasing an additional 40 shares during the period. Benedict Financial Advisors Inc. boosted its stake in shares of RenaissanceRe by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after purchasing an additional 42 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of RenaissanceRe by 3.8% during the third quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock valued at $319,000 after buying an additional 46 shares during the period. Rossby Financial LCC raised its stake in RenaissanceRe by 6.2% in the second quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after buying an additional 49 shares in the last quarter. Finally, Huntington National Bank raised its stake in RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, the executive vice president owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup cut RenaissanceRe from a “buy” rating to a “neutral” rating and set a $328.00 price objective on the stock. in a research report on Monday. UBS Group restated a “neutral” rating and set a $312.00 price target on shares of RenaissanceRe in a research report on Monday. Mizuho increased their price objective on RenaissanceRe from $277.00 to $313.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Thursday, January 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of RenaissanceRe in a report on Friday. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $309.27.

RenaissanceRe Price Performance

RNR opened at $288.92 on Tuesday. The firm has a market cap of $13.32 billion, a PE ratio of 5.10, a P/E/G ratio of 0.74 and a beta of 0.24. The stock has a 50-day moving average price of $276.62 and a 200-day moving average price of $259.71. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $310.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.40.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $8.06 earnings per share. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

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.