1,192 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,192 shares of the insurance provider’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC increased its stake in RenaissanceRe by 52.9% in the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock valued at $1,608,000 after acquiring an additional 2,490 shares during the last quarter. Algert Global LLC acquired a new stake in shares of RenaissanceRe in the 2nd quarter valued at $1,186,000. National Bank of Canada FI increased its stake in shares of RenaissanceRe by 1,381.3% in the 2nd quarter. National Bank of Canada FI now owns 5,377 shares of the insurance provider’s stock valued at $1,189,000 after purchasing an additional 5,014 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of RenaissanceRe during the 3rd quarter worth $3,684,000. Finally, Fisher Asset Management LLC lifted its position in shares of RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after buying an additional 8,844 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on RNR shares. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Barclays initiated coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target on the stock. Citigroup increased their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Evercore ISI upped their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $293.00.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $267.76 on Monday. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.31 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $300.00. The stock has a fifty day simple moving average of $272.33 and a 200 day simple moving average of $250.54. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last issued its quarterly 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. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.33 earnings per share. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date 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 (DPR) is currently 2.25%.

RenaissanceRe Company Profile

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.