Alps Advisors Inc. Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Alps Advisors Inc. purchased a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,921 shares of the insurance provider’s stock, valued at approximately $372,000.

Other institutional investors have also made changes to their positions in the company. Motco bought a new stake in shares of RenaissanceRe in the second quarter worth about $25,000. Krane Funds Advisors LLC bought a new position in shares of RenaissanceRe during the second quarter worth about $25,000. Clean Yield Group bought a new position in shares of RenaissanceRe during the third quarter worth about $32,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of RenaissanceRe during the second quarter worth about $75,000. Finally, Advisory Services Network LLC grew its holdings in shares of RenaissanceRe by 1,340.0% during the second quarter. Advisory Services Network LLC now owns 432 shares of the insurance provider’s stock worth $77,000 after buying an additional 402 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

NYSE:RNR opened at $185.21 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $8.15 billion, a PE ratio of 20.20, a PEG ratio of 2.19 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 52-week low of $118.28 and a 52-week high of $195.18. The stock has a 50-day simple moving average of $188.57 and a 200 day simple moving average of $181.33.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.72). The company had revenue of $704.13 million during the quarter, compared to the consensus estimate of $574.66 million. RenaissanceRe had a net margin of 17.32% and a return on equity of 8.23%. The firm’s revenue for the quarter was up 55.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 8.85 earnings per share for the current fiscal year.

A number of research firms recently issued reports on RNR. Zacks Investment Research upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 price objective for the company in a report on Wednesday, October 16th. ValuEngine downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, August 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $173.00 price objective on shares of RenaissanceRe in a report on Tuesday. Morgan Stanley increased their price objective on RenaissanceRe from $164.00 to $193.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Barclays increased their price objective on RenaissanceRe from $165.00 to $175.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $179.22.

In other RenaissanceRe news, SVP Jonathan Paradine sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $187.00, for a total value of $1,870,000.00. Following the completion of the transaction, the senior vice president now directly owns 50,108 shares in the company, valued at $9,370,196. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

RenaissanceRe Company Profile

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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