RenaissanceRe Holdings Ltd. $RNR Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 276.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,882 shares of the insurance provider’s stock after buying an additional 3,586 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in RenaissanceRe were worth $1,186,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock valued at $599,049,000 after acquiring an additional 676,125 shares in the last quarter. Boston Partners raised its position in RenaissanceRe by 4.6% in the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider’s stock valued at $505,509,000 after purchasing an additional 92,825 shares during the period. Cooke & Bieler LP lifted its stake in shares of RenaissanceRe by 18.0% during the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock worth $299,458,000 after purchasing an additional 190,139 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of RenaissanceRe by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock worth $183,175,000 after buying an additional 101,060 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of RenaissanceRe by 15.2% in the first quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider’s stock valued at $112,038,000 after buying an additional 61,465 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. UBS Group boosted their target price on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on shares of RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $303.00 price target on shares of RenaissanceRe in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $283.08.

RenaissanceRe Stock Up 0.0%

Shares of NYSE:RNR opened at $243.29 on Friday. The firm has a market cap of $11.45 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.27. The company has a fifty day simple moving average of $248.42 and a 200 day simple moving average of $244.04. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, topping the consensus estimate of $10.28 by $2.01. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $12.41 EPS. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, September 15th. RenaissanceRe’s dividend payout ratio (DPR) is 4.09%.

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.