RenaissanceRe Holdings Ltd. $RNR Shares Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 490,283 shares of the insurance provider’s stock after acquiring an additional 53,303 shares during the period. RenaissanceRe makes up approximately 1.0% of Great Lakes Advisors LLC’s portfolio, making the stock its 26th largest position. Great Lakes Advisors LLC’s holdings in RenaissanceRe were worth $124,498,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after purchasing an additional 122,732 shares during the period. Bank of America Corp DE grew its position in RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after buying an additional 120,063 shares during the period. Norges Bank purchased a new position in RenaissanceRe in the second quarter valued at about $139,543,000. Charles Schwab Investment Management Inc. lifted its position in shares of RenaissanceRe by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock valued at $81,208,000 after acquiring an additional 3,070 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of RenaissanceRe by 152.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock valued at $58,136,000 after acquiring an additional 144,547 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $275.60 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a fifty day moving average of $271.66 and a two-hundred day moving average of $256.54. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 2.87 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $285.26.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.49 by $6.13. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.23 earnings per share. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, December 15th. RenaissanceRe’s dividend payout ratio is 4.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RNR shares. Cantor Fitzgerald raised their price objective on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Mizuho set a $277.00 target price on RenaissanceRe in a research report on Wednesday, January 14th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday, December 29th. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $300.00 price objective on shares of RenaissanceRe in a research report on Tuesday, December 16th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $298.07.

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.