RenaissanceRe Holdings Ltd. $RNR Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 14.7% during the first quarter, HoldingsChannel reports. The firm owned 22,733 shares of the insurance provider’s stock after purchasing an additional 2,920 shares during the period. Quantinno Capital Management LP’s holdings in RenaissanceRe were worth $6,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. Quarry LP grew its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after buying an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after buying an additional 94 shares in the last quarter. Kingdom Financial Group LLC. acquired a new position in RenaissanceRe during the fourth quarter worth about $36,000. Mcguire Capital Advisors Inc. acquired a new position in RenaissanceRe during the fourth quarter worth about $38,000. Finally, SBI Securities Co. Ltd. grew 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 acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president directly owned 72,907 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

RNR has been the subject of a number of recent research reports. Evercore set a $330.00 price objective on shares of RenaissanceRe in a report on Thursday, July 23rd. Bank of America upped their price target on RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Mizuho increased their price target on RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Wolfe Research set a $315.00 price objective on RenaissanceRe in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $336.33.

RenaissanceRe Price Performance

Shares of RNR stock opened at $323.41 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $13.44 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 1.18 and a beta of 0.17. The firm’s 50-day moving average is $309.54 and its two-hundred day moving average is $301.47. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $335.97.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, beating the consensus estimate of $11.72 by $1.20. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.57 billion. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. During the same quarter in the prior year, the company posted $12.29 EPS. Analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.41 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is currently 2.81%.

RenaissanceRe 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.