Parametric Portfolio Associates LLC grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210,157 shares of the insurance provider’s stock after acquiring an additional 5,026 shares during the period. Parametric Portfolio Associates LLC’s holdings in RenaissanceRe were worth $40,655,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of RenaissanceRe by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 72,722 shares of the insurance provider’s stock valued at $14,068,000 after acquiring an additional 200 shares during the period. Pictet Asset Management Ltd. boosted its holdings in RenaissanceRe by 8.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 18,772 shares of the insurance provider’s stock worth $3,631,000 after buying an additional 1,400 shares during the period. Andra AP fonden boosted its holdings in RenaissanceRe by 3.8% in the 3rd quarter. Andra AP fonden now owns 40,800 shares of the insurance provider’s stock worth $7,893,000 after buying an additional 1,500 shares during the period. Voya Investment Management LLC boosted its holdings in RenaissanceRe by 53.8% in the 3rd quarter. Voya Investment Management LLC now owns 20,103 shares of the insurance provider’s stock worth $3,889,000 after buying an additional 7,033 shares during the period. Finally, Rational Advisors LLC bought a new position in RenaissanceRe in the 3rd quarter worth approximately $407,000. 93.49% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:RNR opened at $188.33 on Monday. The firm has a fifty day moving average price of $186.78 and a two-hundred day moving average price of $183.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.58 and a quick ratio of 1.58. RenaissanceRe Holdings Ltd. has a one year low of $123.79 and a one year high of $195.18. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.26 and a beta of 0.30.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, December 12th. RenaissanceRe’s dividend payout ratio (DPR) is currently 14.83%.
Several research firms recently commented on RNR. Morgan Stanley raised their price target on shares of RenaissanceRe from $164.00 to $193.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Barclays raised their price target on shares of RenaissanceRe from $165.00 to $175.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. ValuEngine downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Zacks Investment Research raised shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 price target for the company in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $175.78.
In other news, SVP Jonathan Paradine sold 10,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $187.00, for a total transaction of $1,870,000.00. Following the sale, the senior vice president now owns 50,108 shares in the company, valued at approximately $9,370,196. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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