Traders sold shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) on strength during trading hours on Tuesday. $9.98 million flowed into the stock on the tick-up and $31.46 million flowed out of the stock on the tick-down, for a money net flow of $21.48 million out of the stock. Of all equities tracked, RenaissanceRe had the 23rd highest net out-flow for the day. RenaissanceRe traded up $0.59 for the day and closed at $137.13
Several equities analysts have recently commented on the company. Citigroup set a $152.00 target price on RenaissanceRe and gave the company a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research raised RenaissanceRe from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $125.00 target price on shares of RenaissanceRe in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $145.88.
The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. The company has a market cap of $5,460.00, a PE ratio of -25.96, a P/E/G ratio of 1.45 and a beta of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.32. RenaissanceRe’s dividend payout ratio is currently -24.33%.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in RenaissanceRe by 18.9% during the fourth quarter. BlackRock Inc. now owns 4,638,743 shares of the insurance provider’s stock worth $582,578,000 after buying an additional 736,689 shares in the last quarter. TimesSquare Capital Management LLC grew its position in RenaissanceRe by 57.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,137,800 shares of the insurance provider’s stock worth $142,896,000 after buying an additional 413,700 shares in the last quarter. Cooke & Bieler LP grew its position in RenaissanceRe by 14.0% during the fourth quarter. Cooke & Bieler LP now owns 1,069,280 shares of the insurance provider’s stock worth $134,291,000 after buying an additional 130,908 shares in the last quarter. Renaissance Technologies LLC grew its position in RenaissanceRe by 21.8% during the fourth quarter. Renaissance Technologies LLC now owns 868,115 shares of the insurance provider’s stock worth $109,027,000 after buying an additional 155,100 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in RenaissanceRe by 0.8% during the third quarter. Wells Fargo & Company MN now owns 775,406 shares of the insurance provider’s stock worth $104,788,000 after buying an additional 6,452 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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