Wilmington Savings Fund Society FSB Invests $405,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Wilmington Savings Fund Society FSB bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,488 shares of the insurance provider’s stock, valued at approximately $405,000.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in shares of RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after buying an additional 2,490 shares in the last quarter. Algert Global LLC purchased a new position in RenaissanceRe in the second quarter worth about $1,186,000. National Bank of Canada FI raised its position in RenaissanceRe by 1,381.3% during the second quarter. National Bank of Canada FI now owns 5,377 shares of the insurance provider’s stock valued at $1,189,000 after purchasing an additional 5,014 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in RenaissanceRe during the third quarter valued at approximately $3,684,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares during the period. Institutional investors own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America increased their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $293.00.

RenaissanceRe Stock Down 2.8 %

Shares of NYSE:RNR opened at $260.23 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $272.46 and its 200 day moving average is $250.77. The stock has a market cap of $13.52 billion, a P/E ratio of 3.75, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 52-week low of $190.89 and a 52-week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $8.33 earnings per share. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.60%. RenaissanceRe’s dividend payout ratio is presently 2.25%.

About RenaissanceRe

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.