Northwestern Mutual Wealth Management Co. Raises Holdings in RenaissanceRe Holdings Ltd. $RNR

Northwestern Mutual Wealth Management Co. raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19,961.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,905 shares of the insurance provider’s stock after purchasing an additional 98,412 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in RenaissanceRe were worth $27,808,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Root Financial Partners LLC purchased a new stake in RenaissanceRe during the 3rd quarter valued at $36,000. SBI Securities Co. Ltd. boosted its stake in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in RenaissanceRe by 157.0% during the 3rd quarter. Allworth Financial LP now owns 203 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 124 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on RNR shares. Mizuho set a $325.00 target price on RenaissanceRe in a research note on Monday, May 4th. Bank of America lowered their price target on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and increased their price target for the company from $306.00 to $340.00 in a report on Thursday, April 9th. Morgan Stanley cut RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price target on the stock. in a report on Thursday, February 26th. Finally, Barclays lowered their price target on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RenaissanceRe has an average rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe Price Performance

NYSE RNR opened at $302.18 on Wednesday. The business’s fifty day moving average price is $300.68 and its 200-day moving average price is $286.13. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.80 and a beta of 0.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion for the quarter. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 39.37 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.73%.

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.