Arizona State Retirement System boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,332 shares of the insurance provider’s stock after buying an additional 324 shares during the quarter. Arizona State Retirement System’s holdings in RenaissanceRe were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of RNR. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of RenaissanceRe in the third quarter worth approximately $28,000. Neo Ivy Capital Management bought a new position in shares of RenaissanceRe in the third quarter worth approximately $29,000. Wipfli Financial Advisors LLC bought a new position in shares of RenaissanceRe in the third quarter worth approximately $34,000. Signaturefd LLC grew its holdings in shares of RenaissanceRe by 64.4% in the third quarter. Signaturefd LLC now owns 240 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of RenaissanceRe by 514.6% in the third quarter. Rockefeller Capital Management L.P. now owns 295 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
Insider Buying and Selling at RenaissanceRe
In other news, Director Carol P. Sanders sold 1,515 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $211.32, for a total transaction of $320,149.80. Following the completion of the transaction, the director now directly owns 5,629 shares in the company, valued at $1,189,520.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.
RenaissanceRe Stock Performance
RenaissanceRe (NYSE:RNR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The insurance provider reported $8.16 EPS for the quarter, beating the consensus estimate of $7.34 by $0.82. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.40 billion. RenaissanceRe had a positive return on equity of 11.89% and a negative net margin of 1.61%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.50 earnings per share. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 23.61 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of RenaissanceRe from a “c+” rating to a “b” rating in a report on Tuesday, January 31st. BMO Capital Markets assumed coverage on RenaissanceRe in a research note on Thursday, January 19th. They issued a “market perform” rating and a $187.00 price target for the company. StockNews.com assumed coverage on RenaissanceRe in a research note on Thursday, March 16th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Friday, March 31st. Finally, Wells Fargo & Company raised their price target on RenaissanceRe from $245.00 to $256.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $206.80.
RenaissanceRe Profile
RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following business segments: Property, Casualty and Specialty, and Other. The Property segment focuses on catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance, and insurance.
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