Geode Capital Management LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 920,814 shares of the insurance provider's stock after buying an additional 25,773 shares during the period. Geode Capital Management LLC owned 1.77% of RenaissanceRe worth $250,892,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc grew its holdings in RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock valued at $461,679,000 after purchasing an additional 415,366 shares during the period. Cooke & Bieler LP grew its stake in shares of RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock valued at $229,679,000 after buying an additional 86,562 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock worth $139,579,000 after buying an additional 109,851 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in shares of RenaissanceRe by 3.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider's stock worth $56,987,000 after buying an additional 7,718 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in RenaissanceRe by 12.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider's stock valued at $50,910,000 after acquiring an additional 25,760 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.
In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares of the company's stock, valued at approximately $22,338,836. This represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
RNR has been the topic of several research analyst reports. Citigroup lifted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 target price on the stock. Wells Fargo & Company upped their price target on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus price target of $293.00.
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NYSE RNR opened at $267.76 on Friday. The company has a 50-day moving average price of $272.33 and a two-hundred day moving average price of $250.35. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.
RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $8.33 EPS. The firm's revenue for the quarter was up 52.1% on a year-over-year basis. Analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.58%. RenaissanceRe's dividend payout ratio is presently 2.25%.
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.
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