CHICAGO TRUST Co NA Has $1.77 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

CHICAGO TRUST Co NA lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,355 shares of the insurance provider’s stock after purchasing an additional 993 shares during the period. CHICAGO TRUST Co NA’s holdings in RenaissanceRe were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of RenaissanceRe by 17.9% in the fourth quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider’s stock worth $203,339,000 after buying an additional 124,125 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after buying an additional 182,530 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of RenaissanceRe in the fourth quarter worth $561,000. Deutsche Bank AG lifted its stake in shares of RenaissanceRe by 4.2% in the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider’s stock worth $2,666,000 after buying an additional 431 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of RenaissanceRe in the fourth quarter worth $1,086,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 1.6%

Shares of RNR stock opened at $246.70 on Monday. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 2.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day moving average of $241.42 and a 200-day moving average of $246.85.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company posted $12.18 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe’s dividend payout ratio is 5.10%.

Insider Activity

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the transaction, the chief accounting officer now owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RNR shares. Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Bank of America cut their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Barclays cut their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $283.60.

About RenaissanceRe

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.