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Manufacturers’ Life Insurance Company cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) by 4.2% in the third quarter, the company said in its latest filing with the Securities and Exchange Commission (SEC). made it The fund owned 35,393 shares of the insurance company after selling 1,563 of his shares during the quarter. Manufacturers’ Life Insurance Company said at the end of the most recent quarter he owned approximately 0.08% of his RenaissanceRe worth $4,969,000.
Many other institutional investors and hedge funds have also recently changed their stock holdings. Price T Rowe Associates Inc. MD increased his RenaissanceRe stake by 6.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,335,157 shares of the insurance company valued at $521,519,000 after acquiring an additional 207,214 shares during the previous quarter. Capital World Investors increased his stake in RenaissanceRe shares by 5.4% in the first quarter. He owns 2,550,441 shares in the insurance company worth $44270,000 after Capital World Investors acquired an additional 129,891 shares during the previous quarter. State Street Corp increased its stake in RenaissanceRe by 6.2% in the second quarter. State Street Corp now owns 2,426,536 shares of insurance company stock valued at $379,437,000 after acquiring an additional 141,315 shares last quarter. JPMorgan Chase & Co. increased its position in RenaissanceRe by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 1,038,205 shares of the insurance company valued at $162,344,000 after purchasing an additional 7,462 shares in the previous quarter. Finally, Dimensional Fund Advisors LP increased its position in RenaissanceRe by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 679,383 shares of the insurance company valued at $17689,000 after purchasing an additional 15,215 shares in the previous quarter. Institutional investors and hedge funds own 95.52% of the company’s shares.
Wall Street analyst opinion
A number of analysts have recently issued reports on the RNR stock. Wells Fargo & Company raised its price target on RenaissanceRe stock from $200.00 to $234.00 in its research report on Wednesday, January 18, giving the stock an “overweight” rating. Morgan Stanley raised its price target on RenaissanceRe stock from her $150.00 to his $195.00 in a research report on Tuesday, Nov. 22, giving the stock an “equal-weighted” rating. BMO Capital Markets began coverage of RenaissanceRe’s shares in a research report on Thursday, January 19th. They set a “market performance” rating and a target price for the company of $187.00. Finally, StockNews.com upgraded RenaissanceRe’s stock from a “sell” rating to a “pending” rating in his Tuesday, January 10 research report. Four Research analysts rated the stock with a hold rating and one gave the company’s stock a buy rating. According to MarketBeat data, RenaissanceRe has a consensus rating of “Hold” and an average target price of $194.50.
RenaissanceRe stock price down 1.2%
NYSE:RNR shares opened at $192.60 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt to equity ratio of 0.28. RenaissanceRe Holdings Ltd. has a 52-week low of $124.18 and a 52-week high of $199.85. The company has a 50-day moving average of $188.29 and a 200-day moving average of $159.90. The company has a market capitalization of $8.42 billion, a price/earnings ratio of -6.16 and a beta of 0.43.
RenaissanceRe (NYSE:RNR – Get Rating) last published quarterly earnings data on Tuesday, November 1. The insurer reported his earnings per share (EPS) for the quarter ($9.27), but missed consensus expectations ($7.42) ($1.85). RenaissanceRe’s net profit margin was negative 29.35% and return on equity was positive 4.76%. The company’s quarterly earnings were $1.93 billion, compared with analyst estimates of $1.7 billion. As a group, analysts expect Renaissance Re Holdings to post earnings per share of 6.22 for the current financial year.
RenaissanceRe Announces Dividend
The company recently announced a quarterly dividend, which was paid out on Friday, December 30th. Dividends of $0.37 per share were paid to shareholders of record on Thursday, December 15. This represents his $1.48 dividend and his 0.77% dividend yield on an annualized basis. The ex-dividend date for this dividend was December 14 (Wednesday). RenaissanceRe’s Dividend Payout Ratio (DPR) is currently -4.74%.
Insider activity
In other news, SVP Sean G. Brosnan sold 850 shares of stock in a transaction that took place on Tuesday, November 29th. The shares were sold at an average price of $187.74, and the transaction totaled him $159,579.00. Following the closing of the transaction, the Senior Vice President now owns directly 19,038 shares of the Company’s stock valued at approximately $3,574,194.12. The transaction was disclosed in documents filed with the SEC and can be accessed at this link. A company insider owns his 1.70% of the company’s shares.
RenaissanceRe profile
(get rating)
RenaissanceRe Holdings Ltd. is engaged in the provision of reinsurance and insurance services. It operates through the following segments: Property, Casualty & Professionals, and Other. The Property segment consists of Catastrophe, and Other Property reinsurance and insurance. The General Insurance and Special Insurance segment deals with reinsurance and insurance for general and special insurance.
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