Hilltop National Bank Purchases New Holdings in RenaissanceRe Holdings Ltd. $RNR

Hilltop National Bank acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 491 shares of the insurance provider’s stock, valued at approximately $119,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RNR. Brooklyn Investment Group grew its stake in shares of RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after buying an additional 88 shares during the last quarter. Tsfg LLC bought a new stake in RenaissanceRe in the first quarter worth $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in RenaissanceRe by 43.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 56 shares in the last quarter. LRI Investments LLC increased its holdings in shares of RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 141 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of RenaissanceRe by 10.5% during the first quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Morgan Stanley cut their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Cantor Fitzgerald upgraded shares of RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Barclays increased their target price on RenaissanceRe from $256.00 to $273.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $281.91.

RenaissanceRe Trading Up 1.4%

Shares of RenaissanceRe stock opened at $259.38 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $12.21 billion, a P/E ratio of 6.63, a P/E/G ratio of 2.54 and a beta of 0.27. The company has a fifty day moving average of $244.40 and a 200 day moving average of $242.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business earned $12.41 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.40 per share. The ex-dividend date was Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.09%.

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.