1,225 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Purchased by Harbour Capital Advisors LLC

19 Oct 2024, 09:46 by Jessica Moore · The Cerbat Gem

Harbour Capital Advisors LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) in the third quarter, Holdings Channel reports. The fund bought 1,225 shares of the insurance provider’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of RenaissanceRe by 19.8% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 45 shares in the last quarter. CWM LLC raised its position in shares of RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 49 shares during the period. State of Alaska Department of Revenue raised its position in shares of RenaissanceRe by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after purchasing an additional 50 shares during the period. Hilltop National Bank raised its position in shares of RenaissanceRe by 14.9% during the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 52 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of RenaissanceRe by 23.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 64 shares during the period. Institutional investors own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares in the company, valued at approximately $22,338,836. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares in the company, valued at approximately $22,338,836. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $1,109,400 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. UBS Group reduced their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Barclays initiated coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Bank of America upped their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $289.00.

Get Our Latest Analysis on RenaissanceRe

RenaissanceRe Stock Down 0.3 %

NYSE:RNR opened at $282.60 on Friday. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 1.83 and a beta of 0.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $283.86. The stock’s fifty day moving average is $260.37 and its two-hundred day moving average is $236.67.

RenaissanceRe (NYSE:RNR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.88 by $1.53. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.84 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.39 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. RenaissanceRe’s payout ratio is currently 3.08%.

RenaissanceRe Company Profile

(Free Report)

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.