First Horizon Advisors Inc. Increases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Horizon Advisors Inc. grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 88.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344 shares of the insurance provider’s stock after buying an additional 161 shares during the quarter. First Horizon Advisors Inc.’s holdings in RenaissanceRe were worth $67,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in RenaissanceRe by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock valued at $1,072,235,000 after purchasing an additional 120,302 shares during the period. Boston Partners increased its stake in shares of RenaissanceRe by 7.1% during the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock valued at $406,390,000 after buying an additional 135,861 shares during the period. Polar Capital Holdings Plc raised its holdings in shares of RenaissanceRe by 7.5% during the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock valued at $218,653,000 after acquiring an additional 77,319 shares in the last quarter. Cooke & Bieler LP lifted its stake in RenaissanceRe by 97.9% in the fourth quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock worth $213,440,000 after acquiring an additional 538,636 shares during the period. Finally, Earnest Partners LLC increased its position in RenaissanceRe by 2.9% during the 3rd quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock valued at $108,558,000 after purchasing an additional 15,692 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 0.9 %

Shares of NYSE:RNR opened at $225.01 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $226.33 and a two-hundred day simple moving average of $216.37. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 1.95 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm earned $8.16 EPS. RenaissanceRe’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carol P. Sanders sold 880 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now owns 5,363 shares in the company, valued at $1,220,565.17. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RNR shares. Evercore ISI raised their target price on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. TD Cowen started coverage on RenaissanceRe in a research report on Wednesday, January 10th. They set a “market perform” rating on the stock. BMO Capital Markets upped their target price on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. UBS Group raised their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their price target on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $249.00.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.