891 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 891 shares of the insurance provider’s stock, valued at approximately $243,000.

Several other institutional investors have also recently added to or reduced their stakes in RNR. Impax Asset Management Group plc raised its holdings 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 worth $461,679,000 after purchasing an additional 415,366 shares in the last quarter. Cooke & Bieler LP raised its stake in 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 acquiring an additional 86,562 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in RenaissanceRe by 21.3% in the second 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 last quarter. Great Lakes Advisors LLC boosted its stake in RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock valued at $56,987,000 after acquiring an additional 7,718 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of RenaissanceRe by 12.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider’s stock worth $50,910,000 after purchasing an additional 25,760 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 1.0 %

Shares of RenaissanceRe stock opened at $282.38 on Wednesday. The company has a market cap of $14.67 billion, a P/E ratio of 4.07, a PEG ratio of 1.33 and a beta of 0.39. The firm has a fifty day moving average of $269.13 and a two-hundred day moving average of $245.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $8.33 earnings per share. The firm’s revenue was up 52.1% compared to the same quarter last year. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Wall Street Analysts Forecast Growth

RNR has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $293.00.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.