CHICAGO TRUST Co NA Acquires 827 Shares of RenaissanceRe Holdings Ltd. $RNR

CHICAGO TRUST Co NA raised its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,182 shares of the insurance provider’s stock after buying an additional 827 shares during the period. CHICAGO TRUST Co NA’s holdings in RenaissanceRe were worth $1,987,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its position in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after buying an additional 88 shares during the period. Tsfg LLC purchased a new stake in RenaissanceRe during the 1st quarter valued at $40,000. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after buying an additional 56 shares during the period. LRI Investments LLC boosted its position in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock valued at $63,000 after buying an additional 141 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $242.73 on Tuesday. The company has a 50 day moving average price of $241.88 and a 200-day moving average price of $241.62. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The firm has a market capitalization of $11.43 billion, a PE ratio of 6.20, a P/E/G ratio of 2.38 and a beta of 0.29. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping analysts’ consensus estimates of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the business posted $12.41 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. RenaissanceRe’s payout ratio is currently 4.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, July 14th. Wolfe Research began coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They set a “peer perform” rating for the company. Cantor Fitzgerald raised shares of RenaissanceRe to a “hold” rating in a research report on Wednesday, August 13th. Citigroup began coverage on shares of RenaissanceRe in a research report on Wednesday, August 13th. They issued a “buy” rating and a $288.00 target price for the company. Finally, Barclays raised their target price on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $282.09.

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.