Amalgamated Bank Acquires 282 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Amalgamated Bank increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,158 shares of the insurance provider’s stock after purchasing an additional 282 shares during the period. Amalgamated Bank’s holdings in RenaissanceRe were worth $6,891,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Retirement Systems of Alabama boosted its holdings in shares of RenaissanceRe by 7.2% during the 4th quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock valued at $24,666,000 after acquiring an additional 8,441 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of RenaissanceRe by 2.9% during the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after purchasing an additional 15,692 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of RenaissanceRe by 95.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,915 shares of the insurance provider’s stock valued at $3,348,000 after buying an additional 8,281 shares during the period. UBS Group AG raised its holdings in RenaissanceRe by 44.7% in the 3rd quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock valued at $4,139,000 after buying an additional 6,456 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in RenaissanceRe by 3.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 17,937 shares of the insurance provider’s stock worth $3,553,000 after buying an additional 619 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 0.1 %

Shares of RNR stock opened at $218.32 on Monday. The company has a market cap of $11.54 billion, a P/E ratio of 4.82, a PEG ratio of 1.95 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The stock has a 50 day simple moving average of $226.40 and a two-hundred day simple moving average of $216.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating the consensus estimate of $9.86 by $2.32. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. RenaissanceRe’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.16 EPS. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio is 3.45%.

Analyst Ratings Changes

RNR has been the subject of several recent research reports. BMO Capital Markets upped their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. UBS Group raised their target price on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Evercore ISI lifted their target price on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. TD Cowen initiated coverage on RenaissanceRe in a research note on Wednesday, January 10th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and a consensus price target of $249.00.

Insider Activity

In related news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the transaction, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now directly owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the sale, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

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.