Bank of Montreal Can Has $12 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bank of Montreal Can increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,549 shares of the insurance provider’s stock after purchasing an additional 2,695 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of RenaissanceRe worth $12,002,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in shares of RenaissanceRe during the 3rd quarter valued at about $30,000. Blue Trust Inc. bought a new position in RenaissanceRe during the second quarter worth about $27,000. UMB Bank n.a. boosted its holdings in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of RenaissanceRe in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RNR shares. Jefferies Financial Group boosted their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Citigroup increased 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. Bank of America boosted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays initiated coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $293.00.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Up 0.2 %

NYSE:RNR opened at $286.15 on Monday. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 4.12, a P/E/G ratio of 1.40 and a beta of 0.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s fifty day moving average price is $270.90 and its two-hundred day moving average price is $246.90. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $300.00.

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

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.