Amalgamated Bank grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 20.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,060 shares of the insurance provider’s stock after buying an additional 1,378 shares during the period. Amalgamated Bank’s holdings in RenaissanceRe Holdings were worth $1,121,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in RenaissanceRe Holdings by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 127,336 shares of the insurance provider’s stock worth $17,705,000 after buying an additional 3,809 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of RenaissanceRe Holdings by 4.3% in the second quarter. Teachers Advisors LLC now owns 193,388 shares of the insurance provider’s stock worth $26,891,000 after acquiring an additional 7,902 shares during the period. Riverhead Capital Management LLC grew its stake in shares of RenaissanceRe Holdings by 148.0% in the second quarter. Riverhead Capital Management LLC now owns 5,703 shares of the insurance provider’s stock worth $793,000 after acquiring an additional 3,403 shares during the period. Martingale Asset Management L P grew its stake in shares of RenaissanceRe Holdings by 0.7% in the second quarter. Martingale Asset Management L P now owns 156,411 shares of the insurance provider’s stock worth $21,750,000 after acquiring an additional 1,101 shares during the period. Finally, Aberdeen Asset Management PLC UK bought a new stake in shares of RenaissanceRe Holdings in the second quarter worth approximately $421,000. 91.70% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently commented on the stock. UBS AG reduced their price target on shares of RenaissanceRe Holdings from $145.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. BidaskClub upgraded shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $143.00 price target on shares of RenaissanceRe Holdings in a research note on Thursday, September 21st. J P Morgan Chase & Co lowered shares of RenaissanceRe Holdings from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $165.00 to $145.00 in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. One equities 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 currently has an average rating of “Hold” and an average price target of $144.48.

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at 131.93 on Tuesday. RenaissanceRe Holdings Ltd. has a 12 month low of $117.36 and a 12 month high of $152.00. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.26 and a beta of 0.65. The company’s 50-day moving average is $141.42 and its 200 day moving average is $142.04.

RenaissanceRe Holdings (NYSE:RNR) last announced its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.46. The firm had revenue of $555.75 million during the quarter, compared to analyst estimates of $540.65 million. RenaissanceRe Holdings had a net margin of 28.30% and a return on equity of 8.49%. RenaissanceRe Holdings’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post $8.64 earnings per share for the current year.

RenaissanceRe Holdings declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 2nd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, September 14th. RenaissanceRe Holdings’s payout ratio is currently 10.90%.

In related news, SVP Ross Curtis sold 5,300 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $148.23, for a total value of $785,619.00. Following the completion of the transaction, the senior vice president now directly owns 98,564 shares of the company’s stock, valued at approximately $14,610,141.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Odonnell sold 38,344 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $147.93, for a total transaction of $5,672,227.92. Following the completion of the transaction, the chief executive officer now directly owns 208,150 shares of the company’s stock, valued at $30,791,629.50. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

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RenaissanceRe Holdings 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.

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

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