Bayforest Capital Ltd Invests $464,000 in RenaissanceRe Holdings Ltd. $RNR

Bayforest Capital Ltd acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,910 shares of the insurance provider’s stock, valued at approximately $464,000.

A number of other large investors have also bought and sold shares of RNR. IFP Advisors Inc boosted its holdings in shares of RenaissanceRe by 160.0% in the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after buying an additional 72 shares during the period. Brooklyn Investment Group lifted its position in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 88 shares in the last quarter. Tsfg LLC bought a new stake in RenaissanceRe in the 1st quarter valued at $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in RenaissanceRe by 43.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 56 shares during the period. Finally, LRI Investments LLC increased its holdings in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 141 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on RNR. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Cantor Fitzgerald upgraded RenaissanceRe to a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Finally, Citigroup started coverage on shares of RenaissanceRe in a research report on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $283.08.

RenaissanceRe Trading Up 1.0%

NYSE RNR opened at $264.73 on Wednesday. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $247.27 and a 200-day moving average of $243.47. The company has a market cap of $12.46 billion, a PE ratio of 6.76, a PEG ratio of 2.26 and a beta of 0.27.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating analysts’ consensus estimates of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the company posted $12.41 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio 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.