Campbell & CO Investment Adviser LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,239 shares of the insurance provider’s stock, valued at approximately $210,000.
Several other large investors have also modified their holdings of RNR. Signaturefd LLC boosted its position in shares of RenaissanceRe by 43.8% during the 2nd quarter. Signaturefd LLC now owns 210 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 64 shares during the period. Hanseatic Management Services Inc. boosted its position in shares of RenaissanceRe by 29.8% during the second quarter. Hanseatic Management Services Inc. now owns 331 shares of the insurance provider’s stock worth $57,000 after buying an additional 76 shares during the period. Creative Financial Designs Inc. ADV purchased a new position in shares of RenaissanceRe during the second quarter worth $33,000. Accident Compensation Corp grew its stake in shares of RenaissanceRe by 0.6% in the second quarter. Accident Compensation Corp now owns 34,921 shares of the insurance provider’s stock valued at $5,973,000 after buying an additional 200 shares in the last quarter. Finally, World Asset Management Inc raised its holdings in shares of RenaissanceRe by 9.6% in the 2nd quarter. World Asset Management Inc now owns 2,499 shares of the insurance provider’s stock valued at $427,000 after buying an additional 219 shares during the period. 92.34% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on RNR shares. TheStreet raised RenaissanceRe from a “c+” rating to a “b” rating in a research report on Tuesday, July 28th. Morgan Stanley dropped their price objective on shares of RenaissanceRe from $220.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $194.50.
RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $1.38. RenaissanceRe had a net margin of 13.02% and a return on equity of 5.21%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $4.78 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 8.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, September 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.81%. RenaissanceRe’s payout ratio is currently 15.33%.
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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