Barclays PLC lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 57.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,923 shares of the insurance provider's stock after purchasing an additional 8,333 shares during the period. Barclays PLC's holdings in RenaissanceRe were worth $6,244,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in RenaissanceRe by 52.9% during the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider's stock valued at $1,608,000 after acquiring an additional 2,490 shares in the last quarter. Algert Global LLC bought a new stake in RenaissanceRe during the second quarter valued at about $1,186,000. National Bank of Canada FI grew its position in shares of RenaissanceRe by 1,381.3% in the 2nd quarter. National Bank of Canada FI now owns 5,377 shares of the insurance provider's stock worth $1,189,000 after buying an additional 5,014 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in RenaissanceRe in the third quarter worth $3,684,000. Finally, Fisher Asset Management LLC increased its position in RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock valued at $22,003,000 after buying an additional 8,844 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.
Shares of RenaissanceRe stock opened at $248.37 on Friday. The company has a fifty day simple moving average of $271.08 and a 200-day simple moving average of $250.88. RenaissanceRe Holdings Ltd. has a 12-month low of $190.89 and a 12-month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market cap of $12.90 billion, a price-to-earnings ratio of 3.58, a PEG ratio of 1.31 and a beta of 0.41.
RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $8.33 earnings per share. RenaissanceRe's revenue for the quarter was up 52.1% on a year-over-year basis. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is 2.25%.
A number of brokerages have issued reports on RNR. Jefferies Financial Group restated a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday. Bank of America raised their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Barclays started coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $290.09.
Get Our Latest Analysis on RNR
In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.
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.
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