Catalyst Funds Management Pty Ltd Invests $243,000 in RenaissanceRe Holdings Ltd. $RNR

Catalyst Funds Management Pty Ltd bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the insurance provider’s stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Advisors Asset Management Inc. raised its stake in shares of RenaissanceRe by 10.5% in the first quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock worth $106,000 after buying an additional 42 shares during the period. Rossby Financial LCC increased its holdings in RenaissanceRe by 6.2% in the 2nd quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 49 shares in the last quarter. Huntington National Bank increased its holdings in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 56 shares during the period. Finally, Signaturefd LLC lifted its holdings in RenaissanceRe by 13.4% during the second quarter. Signaturefd LLC now owns 483 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $256.89 on Friday. The firm has a market cap of $11.85 billion, a PE ratio of 7.14, a PEG ratio of 2.08 and a beta of 0.25. The stock has a 50 day moving average of $254.74 and a 200 day moving average of $247.04. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $290.78.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data 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 return on equity of 16.83% and a net margin of 14.23%.The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm earned $10.23 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RNR shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $303.00 price objective on shares of RenaissanceRe in a research note on Thursday, October 9th. Barclays set a $278.00 price target on RenaissanceRe in a research note on Wednesday, October 8th. Evercore ISI set a $244.00 price objective on RenaissanceRe and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. UBS Group increased their target price on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $284.50.

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.