RenaissanceRe Holdings Ltd. $RNR Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,800 shares of the insurance provider’s stock after purchasing an additional 458 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RenaissanceRe were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Whittier Trust Co. lifted its stake in shares of RenaissanceRe by 2.4% in the 2nd quarter. Whittier Trust Co. now owns 26,927 shares of the insurance provider’s stock valued at $6,540,000 after purchasing an additional 641 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in RenaissanceRe in the 2nd quarter worth $325,000. Bayforest Capital Ltd purchased a new stake in RenaissanceRe in the 2nd quarter worth $464,000. Envestnet Portfolio Solutions Inc. increased its holdings in RenaissanceRe by 136.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,584 shares of the insurance provider’s stock worth $1,599,000 after acquiring an additional 3,801 shares in the last quarter. Finally, Vest Financial LLC increased its holdings in RenaissanceRe by 24.9% in the 2nd quarter. Vest Financial LLC now owns 3,957 shares of the insurance provider’s stock worth $961,000 after acquiring an additional 789 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 1.3%

Shares of RNR opened at $245.45 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The firm has a 50-day moving average price of $248.36 and a 200 day moving average price of $243.77. The firm has a market capitalization of $11.55 billion, a P/E ratio of 6.27, a P/E/G ratio of 2.09 and a beta of 0.27.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $12.41 earnings per share. RenaissanceRe’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. RenaissanceRe’s dividend payout ratio is presently 4.09%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RNR. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Citigroup began coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They set a “buy” rating and a $288.00 target price for the company. The Goldman Sachs Group began coverage on shares of RenaissanceRe in a report on Tuesday, October 14th. They set a “sell” rating and a $256.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Finally, Barclays set a $278.00 target price on shares of RenaissanceRe in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $283.08.

About RenaissanceRe

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.