Buckley Wealth Management LLC Buys New Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Buckley Wealth Management LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 924 shares of the insurance provider’s stock, valued at approximately $217,000.

Several other institutional investors have also added to or reduced their stakes in RNR. Vanguard Group Inc. boosted its holdings in shares of RenaissanceRe by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock worth $1,090,875,000 after buying an additional 148,173 shares in the last quarter. Capital World Investors boosted its holdings in shares of RenaissanceRe by 1.0% during the 4th quarter. Capital World Investors now owns 2,539,332 shares of the insurance provider’s stock worth $497,709,000 after buying an additional 25,898 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of RenaissanceRe by 5.3% during the 4th quarter. Capital Research Global Investors now owns 1,423,281 shares of the insurance provider’s stock worth $278,963,000 after buying an additional 71,377 shares in the last quarter. American International Group Inc. boosted its holdings in shares of RenaissanceRe by 1,829.6% during the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after buying an additional 1,321,325 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in shares of RenaissanceRe by 7.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock worth $218,653,000 after buying an additional 77,319 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RNR. Evercore ISI increased their price target on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $249.00.

RenaissanceRe Stock Down 0.9 %

NYSE RNR traded down $2.02 on Friday, reaching $222.55. The company had a trading volume of 113,332 shares, compared to its average volume of 332,921. The stock has a market capitalization of $11.77 billion, a P/E ratio of 4.96, a P/E/G ratio of 1.49 and a beta of 0.38. The company’s fifty day moving average is $224.64 and its 200 day moving average is $220.11. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. RenaissanceRe’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.16 EPS. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 37.17 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, June 14th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

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.