Crossmark Global Holdings Inc. Takes $877,000 Position in RenaissanceRe Holdings Ltd. (RNR)
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.
TRADEMARK VIOLATION NOTICE: “Crossmark Global Holdings Inc. Takes $877,000 Position in RenaissanceRe Holdings Ltd. (RNR)” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/crossmark-global-holdings-inc-takes-877000-position-in-renaissancere-holdings-ltd-rnr/1699727.html.
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.
Receive News & Ratings for RenaissanceRe Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe Holdings Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.