Bridges Investment Management Inc. Has $1.39 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bridges Investment Management Inc. grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.3% during the third quarter, HoldingsChannel.com reports. The firm owned 5,100 shares of the insurance provider’s stock after acquiring an additional 560 shares during the quarter. Bridges Investment Management Inc.’s holdings in RenaissanceRe were worth $1,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RNR. Impax Asset Management Group plc raised its position in RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after purchasing an additional 415,366 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after buying an additional 109,851 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock worth $229,679,000 after buying an additional 86,562 shares during the last quarter. Assetmark Inc. boosted its stake in RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after buying an additional 43,384 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in RenaissanceRe by 480.2% in the second quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider’s stock valued at $9,326,000 after acquiring an additional 34,534 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RNR shares. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $291.30.

RenaissanceRe Trading Up 0.9 %

RNR opened at $268.12 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $300.00. The company has a fifty day moving average of $267.63 and a 200-day moving average of $241.84. The stock has a market cap of $13.98 billion, a PE ratio of 3.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.39. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 27.34% and a net margin of 28.84%. The business’s revenue was up 52.1% compared to the same quarter last year. During the same period last year, the business posted $8.33 EPS. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.