Aviva PLC Acquires 1,974 Shares of RenaissanceRe Holdings Ltd. $RNR

Aviva PLC grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 102.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,909 shares of the insurance provider’s stock after purchasing an additional 1,974 shares during the quarter. Aviva PLC’s holdings in RenaissanceRe were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Amundi grew its position in shares of RenaissanceRe by 18.0% in the 1st quarter. Amundi now owns 6,924 shares of the insurance provider’s stock worth $1,699,000 after buying an additional 1,054 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in RenaissanceRe by 128.4% in the first quarter. Nisa Investment Advisors LLC now owns 1,142 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 642 shares in the last quarter. Jane Street Group LLC grew its holdings in RenaissanceRe by 1,180.7% in the first quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock worth $17,812,000 after purchasing an additional 68,422 shares during the last quarter. Federated Hermes Inc. grew its holdings in RenaissanceRe by 34.3% in the first quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider’s stock worth $1,448,000 after purchasing an additional 1,541 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of RenaissanceRe by 276.7% during the second quarter. First Citizens Bank & Trust Co. now owns 4,882 shares of the insurance provider’s stock worth $1,186,000 after purchasing an additional 3,586 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup started coverage on RenaissanceRe in a research report on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective for the company. Cowen reiterated a “hold” rating on shares of RenaissanceRe in a research note on Tuesday, October 7th. Wolfe Research assumed coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of RenaissanceRe in a research note on Friday, October 31st. Finally, The Goldman Sachs Group began coverage on RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $283.67.

RenaissanceRe Trading Down 0.4%

RNR stock opened at $265.68 on Thursday. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $290.78. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a market cap of $12.25 billion, a P/E ratio of 7.38, a PEG ratio of 2.08 and a beta of 0.25. The company’s 50-day simple moving average is $251.82 and its 200-day simple moving average is $246.04.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the firm posted $10.23 EPS. RenaissanceRe’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. RenaissanceRe’s payout ratio is presently 4.45%.

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.