RenaissanceRe Holdings Ltd. (NYSE:RNR) Stake Raised by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,709 shares of the insurance provider’s stock after acquiring an additional 1,095 shares during the quarter. Whittier Trust Co.’s holdings in RenaissanceRe were worth $5,299,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in RenaissanceRe during the first quarter valued at $46,000. Fiera Capital Corp grew its stake in shares of RenaissanceRe by 637.3% in the 4th quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider’s stock valued at $39,037,000 after buying an additional 172,154 shares in the last quarter. Principal Financial Group Inc. increased its holdings in RenaissanceRe by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 193,146 shares of the insurance provider’s stock worth $37,857,000 after buying an additional 3,797 shares during the last quarter. Retirement Systems of Alabama raised its position in RenaissanceRe by 7.2% during the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock valued at $24,666,000 after acquiring an additional 8,441 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in RenaissanceRe by 38.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after acquiring an additional 6,874 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity

In other news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

RenaissanceRe Stock Performance

RenaissanceRe stock traded up $2.49 on Thursday, reaching $258.35. 77,989 shares of the stock were exchanged, compared to its average volume of 333,119. The stock has a market cap of $13.66 billion, a PE ratio of 5.67, a PEG ratio of 1.32 and a beta of 0.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a twelve month low of $183.82 and a twelve month high of $258.35. The firm has a fifty day moving average price of $229.70 and a two-hundred day moving average price of $227.37.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 38.92 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio is currently 3.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RNR shares. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley reduced their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. UBS Group decreased their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America upped their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $263.40.

RenaissanceRe Company 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.