Mitsubishi UFJ Trust & Banking Corp Acquires 2,634 Shares of RenaissanceRe Holdings Ltd. $RNR

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 60.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,958 shares of the insurance provider’s stock after acquiring an additional 2,634 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in RenaissanceRe were worth $1,956,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Consulate Inc. bought a new position in shares of RenaissanceRe during the third quarter valued at $29,000. Farther Finance Advisors LLC raised its stake in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 79 shares during the last quarter. Quarry LP raised its stake in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of RenaissanceRe during the third quarter valued at $36,000. Institutional investors own 99.97% of the company’s stock.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, the executive vice president directly owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $301.44 on Tuesday. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $318.20. The firm has a fifty day simple moving average of $301.47 and a 200 day simple moving average of $282.16. The company has a market capitalization of $12.85 billion, a PE ratio of 5.02, a P/E/G ratio of 0.82 and a beta of 0.22. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share for the quarter, topping analysts’ consensus estimates of $11.07 by $2.68. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned ($1.49) earnings per share. RenaissanceRe’s quarterly revenue was down 36.8% on a year-over-year basis. On average, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 38.28 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a dividend of $0.41 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, March 13th. RenaissanceRe’s payout ratio is 2.73%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RNR shares. Citigroup raised their price target on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Bank of America dropped their price target on shares of RenaissanceRe to $426.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. TD Cowen raised their price target on shares of RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $322.93.

RenaissanceRe Company Profile

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.