GQG Partners LLC Buys New Position in RenaissanceRe Holdings Ltd. $RNR

GQG Partners LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 584,871 shares of the insurance provider’s stock, valued at approximately $185,351,000.

Several other institutional investors have also recently bought and sold shares of the company. Quarry LP grew its stake in shares of RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares in the last quarter. Kingdom Financial Group LLC. bought a new stake in shares of RenaissanceRe in the fourth quarter worth $36,000. Mcguire Capital Advisors Inc. acquired a new position in RenaissanceRe during the fourth quarter worth $38,000. Finally, SBI Securities Co. Ltd. boosted its holdings in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho lifted their price target on shares of RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Wolfe Research set a $315.00 price objective on shares of RenaissanceRe in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America raised their price objective on RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Barclays lifted their target price on RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $336.33.

Insider Transactions at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the sale, the executive vice president owned 72,907 shares in the company, valued at $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

RenaissanceRe Price Performance

NYSE:RNR opened at $324.18 on Friday. The company has a market cap of $13.47 billion, a P/E ratio of 5.56, a P/E/G ratio of 1.18 and a beta of 0.17. The firm’s fifty day moving average price is $317.81 and its two-hundred day moving average price is $305.13. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $335.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share (EPS) for the quarter. The company had revenue of $2.77 billion during the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is 2.81%.

About RenaissanceRe

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.