RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,168 shares of the insurance provider’s stock after purchasing an additional 1,850 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in RenaissanceRe were worth $10,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of RenaissanceRe in the first quarter worth about $26,000. Rise Advisors LLC acquired a new position in RenaissanceRe in the 1st quarter worth about $31,000. Mather Group LLC. purchased a new position in RenaissanceRe during the first quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in RenaissanceRe in the fourth quarter valued at approximately $37,000. Finally, Daiwa Securities Group Inc. acquired a new stake in RenaissanceRe in the fourth quarter valued at approximately $39,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RNR. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI increased their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Morgan Stanley cut their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. UBS Group decreased their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Bank of America lifted their price objective on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $261.56.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the executive vice president now directly owns 85,544 shares in the company, valued at $19,675,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $219.59 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42. The firm has a market capitalization of $11.61 billion, a PE ratio of 4.85, a price-to-earnings-growth ratio of 1.61 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $224.07 and a 200-day simple moving average of $223.34.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 28.79% and a net margin of 25.38%. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period last year, the company earned $8.16 EPS. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 36.82 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

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.