Thrivent Financial for Lutherans increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,218 shares of the insurance provider’s stock after purchasing an additional 508 shares during the period. Thrivent Financial for Lutherans’ holdings in RenaissanceRe were worth $1,366,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of RNR. JPMorgan Chase & Co. grew its holdings in RenaissanceRe by 61.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 97,227 shares of the insurance provider’s stock valued at $12,987,000 after buying an additional 36,837 shares during the last quarter. Prudential Financial Inc. grew its holdings in RenaissanceRe by 2.3% during the 3rd quarter. Prudential Financial Inc. now owns 31,375 shares of the insurance provider’s stock valued at $4,191,000 after buying an additional 698 shares during the last quarter. Martingale Asset Management L P grew its holdings in RenaissanceRe by 4.6% during the 3rd quarter. Martingale Asset Management L P now owns 274,571 shares of the insurance provider’s stock valued at $36,678,000 after buying an additional 12,104 shares during the last quarter. BlackRock Inc. grew its holdings in RenaissanceRe by 1.5% during the 3rd quarter. BlackRock Inc. now owns 4,705,093 shares of the insurance provider’s stock valued at $628,507,000 after buying an additional 70,280 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in RenaissanceRe by 79.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,696 shares of the insurance provider’s stock valued at $515,000 after buying an additional 1,637 shares during the last quarter. Institutional investors own 95.60% of the company’s stock.
NYSE:RNR opened at $143.28 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.71 and a current ratio of 1.71. RenaissanceRe Holdings Ltd. has a 12 month low of $117.35 and a 12 month high of $147.97. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.33 and a beta of 0.49.
RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 29th. The insurance provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($1.93) by $1.95. RenaissanceRe had a return on equity of 9.18% and a net margin of 10.96%. The company had revenue of $633.44 million for the quarter, compared to analyst estimates of $545.60 million. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 11.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.34 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 0.95%. RenaissanceRe’s dividend payout ratio (DPR) is 14.83%.
In other RenaissanceRe news, SVP Sean G. Brosnan sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total value of $182,462.50. Following the transaction, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
Several equities research analysts have recently issued reports on RNR shares. Keefe, Bruyette & Woods upgraded RenaissanceRe from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $143.00 to $168.00 in a report on Monday, December 10th. Zacks Investment Research cut RenaissanceRe from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $130.00 to $125.00 in a report on Wednesday, January 9th. They noted that the move was a valuation call. Bank of America cut RenaissanceRe from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 16th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $125.00 target price on shares of RenaissanceRe in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $145.70.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNR).
Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.