Martingale Asset Management L P boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,571 shares of the insurance provider’s stock after purchasing an additional 12,104 shares during the quarter. Martingale Asset Management L P owned about 0.68% of RenaissanceRe worth $36,678,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in RenaissanceRe by 1.4% during the third quarter. Janus Henderson Group PLC now owns 1,682,931 shares of the insurance provider’s stock worth $224,806,000 after purchasing an additional 23,573 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of RenaissanceRe by 31.8% during the second quarter. Renaissance Technologies LLC now owns 1,389,122 shares of the insurance provider’s stock worth $167,139,000 after buying an additional 335,307 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of RenaissanceRe by 9.0% during the second quarter. Cooke & Bieler LP now owns 819,636 shares of the insurance provider’s stock worth $98,619,000 after buying an additional 67,653 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of RenaissanceRe by 1.0% during the third quarter. Victory Capital Management Inc. now owns 719,190 shares of the insurance provider’s stock worth $96,069,000 after buying an additional 7,020 shares during the last quarter. Finally, ARGA Investment Management LP lifted its holdings in shares of RenaissanceRe by 45.1% during the second quarter. ARGA Investment Management LP now owns 578,166 shares of the insurance provider’s stock worth $69,565,000 after buying an additional 179,750 shares during the last quarter. 95.89% of the stock is owned by hedge funds and other institutional investors.

Shares of RNR stock opened at $127.83 on Wednesday. RenaissanceRe Holdings Ltd. has a 12 month low of $116.50 and a 12 month high of $142.56. The company has a market cap of $5.07 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.67 and a quick ratio of 1.67.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.42. The business had revenue of $453.30 million during the quarter, compared to analyst estimates of $416.49 million. RenaissanceRe had a return on equity of 10.52% and a net margin of 15.07%. RenaissanceRe’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted ($13.81) earnings per share. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 10.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.03%. RenaissanceRe’s payout ratio is -15.81%.

A number of research analysts have recently commented on the company. Morgan Stanley cut their price target on RenaissanceRe from $142.00 to $136.00 and set a “hold” rating for the company in a report on Wednesday, November 14th. Citigroup lowered RenaissanceRe from a “buy” rating to a “neutral” rating in a report on Thursday, November 8th. Zacks Investment Research upgraded RenaissanceRe from a “hold” rating to a “strong-buy” rating and set a $160.00 price target for the company in a report on Thursday, October 4th. Deutsche Bank upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday, November 7th. Finally, Buckingham Research upped their price target on RenaissanceRe from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $142.86.

In related news, Director Henry Klehm III sold 810 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $128.00, for a total value of $103,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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