2,041 Shares of RenaissanceRe Holdings Ltd. $RNR Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, Holdings Channel reports. The fund bought 2,041 shares of the insurance provider’s stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RNR. Ashurst Perkins Coie Trust Co bought a new stake in shares of RenaissanceRe during the third quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its position in shares of RenaissanceRe by 90.0% in the third quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 45 shares during the period. Continuum Advisory LLC bought a new position in shares of RenaissanceRe in the second quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of RenaissanceRe in the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc grew its stake in RenaissanceRe by 155.3% during the third quarter. Versant Capital Management Inc now owns 194 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 118 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on RNR shares. Evercore set a $330.00 target price on shares of RenaissanceRe in a report on Thursday, July 23rd. Bank of America increased their target price on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. UBS Group raised their price target on shares of RenaissanceRe from $349.00 to $366.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. reduced their price target on shares of RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of RenaissanceRe in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $343.69.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $346.75 on Monday. The stock’s 50-day simple moving average is $335.19 and its two-hundred day simple moving average is $312.00. RenaissanceRe Holdings Ltd. has a twelve month low of $251.60 and a twelve month high of $363.84. The firm has a market capitalization of $14.01 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.89 and a beta of 0.11. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.56 by $2.15. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.78 billion. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. During the same quarter last year, the company posted $15.62 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 49.24 EPS for the current fiscal year.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a Bermuda-based provider of reinsurance and insurance, serving clients around the world. The company focuses on helping insurers and other businesses manage risks that can be difficult to predict or absorb.

Its main offerings include property catastrophe reinsurance, which helps protect insurers against losses from events such as hurricanes and earthquakes, as well as casualty and specialty reinsurance and insurance. RenaissanceRe also manages capital on behalf of third-party investors and uses risk modeling to assess and manage its exposure.

Founded in Bermuda in 1993, RenaissanceRe was established to address demand for catastrophe risk coverage.