Cerity Partners LLC Acquires 7,231 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cerity Partners LLC lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 69.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,671 shares of the insurance provider’s stock after purchasing an additional 7,231 shares during the quarter. Cerity Partners LLC’s holdings in RenaissanceRe were worth $4,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RNR. Impax Asset Management Group plc raised its position in RenaissanceRe by 32.4% in the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after purchasing an additional 109,851 shares during the last quarter. Cooke & Bieler LP lifted its position in RenaissanceRe by 9.2% during the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after purchasing an additional 86,562 shares during the period. Assetmark Inc. boosted its holdings in RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after purchasing an additional 43,384 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in RenaissanceRe by 480.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider’s stock worth $9,326,000 after purchasing an additional 34,534 shares during the period. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Up 1.1 %

Shares of RenaissanceRe stock opened at $285.44 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $14.83 billion, a P/E ratio of 4.11, a P/E/G ratio of 1.36 and a beta of 0.39. The company has a fifty day moving average of $269.96 and a 200 day moving average of $246.02.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $8.33 earnings per share. The firm’s revenue was up 52.1% on a year-over-year basis. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RNR. Bank of America raised their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Citigroup upped their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.00.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 83,044 shares in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

RenaissanceRe 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.