Estate Counselors LLC Acquires New Stake in RenaissanceRe Holdings Ltd. $RNR

Estate Counselors LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,479 shares of the insurance provider’s stock, valued at approximately $2,946,000.

Several other large investors also recently added to or reduced their stakes in RNR. Lightrock Netherlands B.V. boosted its stake 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 valued at $286,083,000 after buying an additional 996,266 shares during the period. M&T Bank Corp boosted its stake in RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock valued at $81,635,000 after buying an additional 286,894 shares during the period. AQR Capital Management LLC raised its position in RenaissanceRe by 154.5% during the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock valued at $99,769,000 after purchasing an additional 241,001 shares in the last quarter. Millennium Management LLC raised its position in RenaissanceRe by 347.6% during the third quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock valued at $60,161,000 after purchasing an additional 183,988 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in RenaissanceRe by 330.0% during the third quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock valued at $44,277,000 after purchasing an additional 133,820 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.2%

RNR opened at $298.83 on Monday. The company has a market cap of $12.74 billion, a P/E ratio of 4.98, a P/E/G ratio of 0.82 and a beta of 0.22. The business’s 50-day moving average price is $301.47 and its 200-day moving average price is $282.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20.

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

RenaissanceRe Increases Dividend

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

Wall Street Analyst Weigh In

RNR has been the topic of a number of research reports. TD Cowen raised their price target on RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Barclays lowered their price target on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wells Fargo & Company raised their price target on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $267.00 price objective on shares of RenaissanceRe in a report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $321.93.

Insider Activity

In related news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the sale, the executive vice president directly owned 73,023 shares of the company’s stock, valued at $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

RenaissanceRe 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.