Creative Planning Purchases 996 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Creative Planning lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 71.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,383 shares of the insurance provider’s stock after acquiring an additional 996 shares during the period. Creative Planning’s holdings in RenaissanceRe were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of RenaissanceRe during the first quarter valued at $46,000. Wedge Capital Management L L P NC purchased a new stake in RenaissanceRe in the second quarter worth approximately $2,887,000. Russell Investments Group Ltd. grew its position in RenaissanceRe by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after purchasing an additional 3,962 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of RenaissanceRe during the 1st quarter valued at $744,000. Finally, Intech Investment Management LLC boosted its stake in shares of RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after buying an additional 2,490 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s 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 transaction, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Performance

NYSE:RNR opened at $266.49 on Tuesday. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $284.36. The firm has a 50 day simple moving average of $266.06 and a 200-day simple moving average of $240.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $13.90 billion, a PE ratio of 5.27, a P/E/G ratio of 1.71 and a beta of 0.39.

Wall Street Analyst Weigh In

Several research firms have recently commented on RNR. Jefferies Financial Group upped their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup upped their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley dropped their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $289.00.

RenaissanceRe Company 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.