1,651 RenaissanceRe Holdings Ltd. $RNR Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.0% in the third quarter, Holdings Channel.com reports. The firm owned 28,978 shares of the insurance provider’s stock after buying an additional 1,651 shares during the period. Illinois Municipal Retirement Fund’s holdings in RenaissanceRe were worth $9,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of RenaissanceRe in the second quarter worth about $1,319,724,000. Lightrock Netherlands B.V. lifted its stake in shares of RenaissanceRe by 15.8% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock valued at $350,263,000 after buying an additional 160,915 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider’s stock valued at $322,603,000 after buying an additional 52,371 shares in the last quarter. GQG Partners LLC bought a new position in RenaissanceRe in the 2nd quarter worth approximately $185,351,000. Finally, Bank of New York Mellon Corp bought a new position in RenaissanceRe in the 2nd quarter worth approximately $116,717,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RNR shares. TD Cowen lifted their price objective on shares of RenaissanceRe from $315.00 to $320.00 and gave the company a “hold” rating in a research note on Monday, October 12th. Bank of America boosted their target price on shares of RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Royal Bank Of Canada assumed coverage on RenaissanceRe in a research report on Tuesday, September 22nd. They set a “sector perform” rating and a $365.00 target price on the stock. Mizuho set a $352.00 price target on RenaissanceRe in a report on Monday, November 2nd. Finally, JPMorgan Chase & Co. cut their price target on RenaissanceRe from $360.00 to $355.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating, twelve 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 price target of $343.69.

RenaissanceRe Stock Up 0.2%

RNR stock opened at $354.50 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $14.33 billion, a PE ratio of 10.19, a PEG ratio of 0.91 and a beta of 0.11. RenaissanceRe Holdings Ltd. has a twelve month low of $251.60 and a twelve month high of $363.84. The stock has a 50-day simple moving average of $337.05 and a two-hundred day simple moving average of $313.59.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share for the quarter, beating the consensus estimate of $10.56 by $2.15. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business posted $15.62 earnings per share. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 49.24 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is 4.72%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a Bermuda-based provider of reinsurance and insurance, serving clients around the world. The company focuses on helping insurers and other businesses manage risks that can be difficult to predict or absorb. Its main offerings include property catastrophe reinsurance, which helps protect insurers against losses from events such as hurricanes and earthquakes, as well as casualty and specialty reinsurance and insurance. RenaissanceRe also manages capital on behalf of third-party investors and uses risk modeling to assess and manage its exposure.