Riverview Trust Co Buys New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Riverview Trust Co bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 111 shares of the insurance provider’s stock, valued at approximately $26,000.

Several other large investors have also recently added to or reduced their stakes in RNR. Janney Montgomery Scott LLC acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $388,000. UBS Group AG increased its position in shares of RenaissanceRe by 44.7% during the 3rd quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock valued at $4,139,000 after purchasing an additional 6,456 shares during the period. Citigroup Inc. increased its position in shares of RenaissanceRe by 3.3% during the 3rd quarter. Citigroup Inc. now owns 5,127 shares of the insurance provider’s stock valued at $1,015,000 after purchasing an additional 163 shares during the period. Hsbc Holdings PLC increased its position in shares of RenaissanceRe by 146.1% during the 3rd quarter. Hsbc Holdings PLC now owns 18,111 shares of the insurance provider’s stock valued at $3,609,000 after purchasing an additional 10,752 shares during the period. Finally, Mariner LLC increased its position in shares of RenaissanceRe by 4.9% during the 3rd quarter. Mariner LLC now owns 3,982 shares of the insurance provider’s stock valued at $788,000 after purchasing an additional 187 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RNR has been the topic of several research analyst reports. Evercore ISI lifted their price target on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average target price of $249.00.

RenaissanceRe Stock Performance

RNR opened at $225.44 on Thursday. The firm has a market cap of $11.92 billion, a PE ratio of 4.98, a P/E/G ratio of 1.51 and a beta of 0.38. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $224.61 and a 200-day simple moving average of $220.08. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, topping the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. RenaissanceRe’s revenue was up 41.3% compared to the same quarter last year. During the same quarter last year, the firm posted $8.16 earnings per share. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 37.22 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

RenaissanceRe 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.