RenaissanceRe Holdings Ltd. $RNR Shares Acquired by Rossby Financial LCC

Rossby Financial LCC lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.2% during the second quarter, HoldingsChannel.com reports. The firm owned 845 shares of the insurance provider’s stock after purchasing an additional 49 shares during the period. Rossby Financial LCC’s holdings in RenaissanceRe were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. GAMMA Investing LLC grew its position in RenaissanceRe by 39.9% during the first quarter. GAMMA Investing LLC now owns 1,650 shares of the insurance provider’s stock worth $396,000 after buying an additional 471 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of RenaissanceRe by 110.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,818 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 954 shares during the period. 44 Wealth Management LLC grew its holdings in shares of RenaissanceRe by 7.6% in the 1st quarter. 44 Wealth Management LLC now owns 4,587 shares of the insurance provider’s stock worth $1,101,000 after acquiring an additional 325 shares during the period. Lightrock Netherlands B.V. grew its holdings in shares of RenaissanceRe by 61.3% in the 1st quarter. Lightrock Netherlands B.V. now owns 29,717 shares of the insurance provider’s stock worth $7,144,000 after acquiring an additional 11,291 shares during the period. Finally, ARGA Investment Management LP grew its holdings in shares of RenaissanceRe by 344.9% in the 1st quarter. ARGA Investment Management LP now owns 24,089 shares of the insurance provider’s stock worth $5,781,000 after acquiring an additional 18,675 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $231.75 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The stock has a market capitalization of $10.91 billion, a P/E ratio of 5.92, a P/E/G ratio of 2.03 and a beta of 0.27. The firm’s 50-day moving average is $248.24 and its two-hundred day moving average is $244.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the company earned $10.23 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RNR shares. Keefe, Bruyette & Woods upped their target price on RenaissanceRe from $268.00 to $269.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research note on Tuesday, October 7th. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Finally, Wolfe Research initiated coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average price target of $283.08.

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.