Estate Counselors LLC Has $1.66 Million Stock Position in RenaissanceRe Holdings Ltd. $RNR

Estate Counselors LLC lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 46.6% in the first quarter, HoldingsChannel reports. The fund owned 5,594 shares of the insurance provider’s stock after selling 4,885 shares during the period. Estate Counselors LLC’s holdings in RenaissanceRe were worth $1,663,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Lightrock Netherlands B.V. increased its position in RenaissanceRe by 4,690.1% during the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares during the period. Orbis Allan Gray Ltd bought a new stake in RenaissanceRe in the 4th quarter valued at about $178,519,000. Norges Bank bought a new stake in RenaissanceRe in the 4th quarter valued at about $168,582,000. Egerton Capital UK LLP acquired a new position in shares of RenaissanceRe during the 4th quarter worth approximately $137,944,000. Finally, GQG Partners LLC acquired a new position in shares of RenaissanceRe during the 4th quarter worth approximately $108,780,000. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RNR. Evercore set a $330.00 target price on shares of RenaissanceRe in a report on Thursday. Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen raised their price objective on RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price objective on RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Wolfe Research set a $315.00 price objective on RenaissanceRe in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $335.80.

RenaissanceRe Price Performance

RNR stock opened at $328.94 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $331.45. The firm has a market cap of $14.02 billion, a P/E ratio of 5.65, a P/E/G ratio of 1.24 and a beta of 0.17. The company’s 50-day moving average price is $305.71 and its two-hundred day moving average price is $298.97.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping analysts’ consensus estimates of $11.72 by $1.20. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the firm posted $12.29 EPS. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.08 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s payout ratio is currently 2.81%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.