Crossmark Global Holdings Inc. bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,492 shares of the insurance provider’s stock, valued at approximately $877,000.

Other large investors have also bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in shares of RenaissanceRe Holdings during the 2nd quarter valued at about $161,000. Nomura Holdings Inc. acquired a new stake in RenaissanceRe Holdings in the 2nd quarter worth about $212,000. Citigroup Inc. boosted its holdings in RenaissanceRe Holdings by 262.5% in the 2nd quarter. Citigroup Inc. now owns 1,566 shares of the insurance provider’s stock worth $218,000 after buying an additional 1,134 shares during the last quarter. Parametrica Management Ltd acquired a new stake in RenaissanceRe Holdings in the 2nd quarter worth about $220,000. Finally, Pacad Investment Ltd. acquired a new stake in RenaissanceRe Holdings in the 2nd quarter worth about $222,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Shares of RenaissanceRe Holdings Ltd. (NYSE RNR) opened at $139.70 on Monday. RenaissanceRe Holdings Ltd. has a 12-month low of $120.55 and a 12-month high of $152.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.66 and a current ratio of 1.66.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.25) by ($1.56). RenaissanceRe Holdings had a negative return on equity of 5.82% and a negative net margin of 7.60%. The company had revenue of $483.22 million for the quarter, compared to analysts’ expectations of $300.46 million. During the same period in the prior year, the company posted $2.09 EPS. The firm’s revenue was up 70.0% compared to the same quarter last year. research analysts predict that RenaissanceRe Holdings Ltd. will post -6.8 earnings per share for the current year.

RenaissanceRe Holdings declared that its board has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Several research firms recently issued reports on RNR. Zacks Investment Research upgraded RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a report on Friday. Citigroup Inc. upgraded RenaissanceRe Holdings from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $151.00 to $157.00 in a report on Thursday, November 2nd. UBS AG boosted their target price on RenaissanceRe Holdings from $135.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. BidaskClub upgraded RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Morgan Stanley lowered their target price on RenaissanceRe Holdings from $144.00 to $142.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. RenaissanceRe Holdings has an average rating of “Hold” and an average price target of $144.38.

In related news, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $134.89, for a total transaction of $674,450.00. Following the completion of the transaction, the chief executive officer now owns 197,904 shares in the company, valued at $26,695,270.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

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RenaissanceRe Holdings Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

Institutional Ownership by Quarter for RenaissanceRe Holdings (NYSE:RNR)

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