Catalyst Capital Advisors LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,000 shares of the insurance provider’s stock after buying an additional 13,220 shares during the period. RenaissanceRe Holdings accounts for about 0.5% of Catalyst Capital Advisors LLC’s holdings, making the stock its 25th largest position. Catalyst Capital Advisors LLC owned approximately 0.17% of RenaissanceRe Holdings worth $10,270,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of RNR. Quadrant Capital Group LLC boosted its position in shares of RenaissanceRe Holdings by 7.6% in the first quarter. Quadrant Capital Group LLC now owns 826 shares of the insurance provider’s stock worth $114,000 after buying an additional 58 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of RenaissanceRe Holdings by 28.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,414 shares of the insurance provider’s stock worth $193,000 after buying an additional 314 shares during the last quarter. Parallel Advisors LLC acquired a new position in shares of RenaissanceRe Holdings during the fourth quarter worth approximately $194,000. Chilton Capital Management LLC acquired a new position in shares of RenaissanceRe Holdings during the fourth quarter worth approximately $204,000. Finally, Neuburgh Advisers LLC boosted its position in shares of RenaissanceRe Holdings by 4.6% in the first quarter. Neuburgh Advisers LLC now owns 1,456 shares of the insurance provider’s stock worth $211,000 after buying an additional 64 shares during the last quarter. 94.24% of the stock is owned by institutional investors and hedge funds.
RenaissanceRe Holdings Ltd. (NYSE:RNR) traded up 0.58% during trading on Friday, hitting $137.56. 263,354 shares of the company were exchanged. The stock’s 50-day moving average is $140.24 and its 200-day moving average is $138.68. RenaissanceRe Holdings Ltd. has a 12 month low of $111.25 and a 12 month high of $150.74. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 12.82 and a beta of 0.52.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, June 13th. RenaissanceRe Holdings’s dividend payout ratio (DPR) is 10.86%.
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A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. Citigroup Inc lifted their price objective on shares of RenaissanceRe Holdings from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, April 7th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of RenaissanceRe Holdings in a research note on Sunday, April 16th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $136.95.
In other news, CEO Kevin Odonnell sold 7,000 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $144.40, for a total value of $1,010,800.00. Following the completion of the sale, the chief executive officer now directly owns 233,101 shares in the company, valued at $33,659,784.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.
RenaissanceRe Holdings Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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