American Century Companies Inc. Acquires 8,083 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

American Century Companies Inc. raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,291 shares of the insurance provider’s stock after purchasing an additional 8,083 shares during the quarter. American Century Companies Inc. owned 0.10% of RenaissanceRe worth $11,241,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RNR. Riverview Trust Co bought a new position in RenaissanceRe in the first quarter valued at about $26,000. Blue Trust Inc. bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in RenaissanceRe during the 1st quarter worth approximately $31,000. V Square Quantitative Management LLC bought a new position in RenaissanceRe in the 2nd quarter valued at approximately $31,000. Finally, Mather Group LLC. acquired a new stake in RenaissanceRe in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Up 1.0 %

NYSE:RNR opened at $263.67 on Monday. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $268.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm’s fifty day moving average is $242.87 and its 200-day moving average is $231.34. The firm has a market cap of $13.94 billion, a P/E ratio of 5.83, a P/E/G ratio of 1.45 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. RenaissanceRe’s payout ratio is currently 3.45%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RNR shares. Citigroup upped their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Barclays began coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. UBS Group dropped their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley reduced their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $272.60.

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.