Swiss National Bank Boosts Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)
Swiss National Bank boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,275 shares of the insurance provider’s stock after purchasing an additional 6,200 shares during the period. Swiss National Bank owned approximately 0.70% of RenaissanceRe worth $55,410,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of RNR. Advisory Services Network LLC raised its stake in RenaissanceRe by 1,340.0% during the second quarter. Advisory Services Network LLC now owns 432 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 402 shares during the period. Parallel Advisors LLC raised its stake in shares of RenaissanceRe by 862.1% in the 1st quarter. Parallel Advisors LLC now owns 558 shares of the insurance provider’s stock valued at $80,000 after acquiring an additional 500 shares during the period. Quadrant Capital Group LLC raised its stake in shares of RenaissanceRe by 138.6% in the 1st quarter. Quadrant Capital Group LLC now owns 847 shares of the insurance provider’s stock valued at $116,000 after acquiring an additional 492 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at $140,000. Finally, ETF Managers Group LLC raised its stake in shares of RenaissanceRe by 11.1% in the 1st quarter. ETF Managers Group LLC now owns 1,041 shares of the insurance provider’s stock valued at $149,000 after acquiring an additional 104 shares during the period. 93.05% of the stock is currently owned by institutional investors.
In related news, CEO Kevin Odonnell sold 28,375 shares of RenaissanceRe stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $182.05, for a total value of $5,165,668.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sean G. Brosnan sold 931 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $183.91, for a total transaction of $171,220.21. Following the sale, the senior vice president now owns 8,779 shares in the company, valued at $1,614,545.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,306 shares of company stock worth $8,523,489. 1.60% of the stock is currently owned by insiders.
Shares of NYSE:RNR opened at $188.14 on Tuesday. The company has a market cap of $8.38 billion, a PE ratio of 20.52, a P/E/G ratio of 1.41 and a beta of 0.32. The company’s 50-day moving average price is $184.51 and its 200 day moving average price is $163.37. RenaissanceRe Holdings Ltd. has a fifty-two week low of $118.28 and a fifty-two week high of $190.97. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.26.
RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $4.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $1.20. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $824.40 million. RenaissanceRe had a net margin of 19.47% and a return on equity of 8.87%. RenaissanceRe’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period last year, the firm posted $5.23 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 14.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.34 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.36 annualized dividend and a yield of 0.72%. RenaissanceRe’s dividend payout ratio is presently 14.83%.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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