ProShare Advisors LLC Buys 8,464 Shares of RenaissanceRe Holdings Ltd. $RNR

ProShare Advisors LLC grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,898 shares of the insurance provider’s stock after acquiring an additional 8,464 shares during the quarter. ProShare Advisors LLC’s holdings in RenaissanceRe were worth $37,302,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RNR. Hantz Financial Services Inc. lifted its position in RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Financial Consulate Inc. purchased a new stake in RenaissanceRe during the 3rd quarter valued at $29,000. IFP Advisors Inc lifted its holdings in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after buying an additional 72 shares during the period. Huntington National Bank boosted its stake in shares of 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 buying an additional 55 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of RenaissanceRe by 151.9% in the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 79 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Cowen reissued a “hold” rating on shares of RenaissanceRe in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of RenaissanceRe in a research note on Monday, December 29th. UBS Group reissued a “neutral” rating and issued a $312.00 price objective on shares of RenaissanceRe in a report on Monday. Zacks Research lowered shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Barclays increased their price target on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $309.27.

RenaissanceRe Trading Down 3.9%

RenaissanceRe stock opened at $288.92 on Tuesday. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $310.80. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of 0.74 and a beta of 0.24. The firm has a 50 day moving average of $276.62 and a 200 day moving average of $259.71. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.06 earnings per share. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This represents a 6.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.