3,745 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Bought by Inspire Investing LLC

Inspire Investing LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,745 shares of the insurance provider’s stock, valued at approximately $880,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Trading LLC raised its holdings in shares of RenaissanceRe by 141.4% in the third quarter. Walleye Trading LLC now owns 6,714 shares of the insurance provider’s stock worth $1,329,000 after buying an additional 3,933 shares during the period. Citigroup Inc. increased its stake in RenaissanceRe by 3.3% in the third quarter. Citigroup Inc. now owns 5,127 shares of the insurance provider’s stock worth $1,015,000 after purchasing an additional 163 shares during the period. Vanguard Group Inc. lifted its position in shares of RenaissanceRe by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after purchasing an additional 120,302 shares during the last quarter. Polianta Ltd bought a new stake in shares of RenaissanceRe during the fourth quarter worth $842,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the topic of several recent analyst reports. Bank of America raised their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley reduced their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. UBS Group decreased their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Evercore ISI increased their price objective on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $245.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $261.33.

RenaissanceRe Stock Performance

RNR opened at $229.37 on Wednesday. The firm’s 50-day moving average price is $223.95 and its 200-day moving average price is $222.40. The company has a market cap of $12.13 billion, a P/E ratio of 5.07, a price-to-earnings-growth ratio of 1.61 and a beta of 0.38. 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 Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter last year, the company posted $8.16 earnings per share. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 36.88 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.39 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.68%. RenaissanceRe’s dividend payout ratio is currently 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.