RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 52.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,193 shares of the insurance provider’s stock after acquiring an additional 2,490 shares during the quarter. Intech Investment Management LLC’s holdings in RenaissanceRe were worth $1,608,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American International Group Inc. lifted its stake in shares of RenaissanceRe by 1,829.6% in the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after purchasing an additional 1,321,325 shares during the period. Vanguard Group Inc. increased its holdings in RenaissanceRe by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock valued at $1,090,875,000 after buying an additional 148,173 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of RenaissanceRe by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,752,016 shares of the insurance provider’s stock valued at $646,806,000 after acquiring an additional 124,039 shares during the period. Dimensional Fund Advisors LP lifted its position 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 valued at $139,579,000 after acquiring an additional 109,851 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of RenaissanceRe by 7.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock worth $286,028,000 after acquiring an additional 91,425 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $264.44 on Tuesday. The stock has a fifty day moving average price of $243.66 and a 200 day moving average price of $231.60. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $268.61. The firm has a market capitalization of $13.98 billion, a P/E ratio of 5.84, a PEG ratio of 1.45 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.93 billion. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Insider Transactions at RenaissanceRe

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on RNR shares. Bank of America boosted their target price on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Citigroup lifted their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, Barclays began coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average price target of $272.60.

About RenaissanceRe

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.