Mitsubishi UFJ Trust & Banking Corp Purchases 2,641 Shares of RenaissanceRe Holdings Ltd. $RNR

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 156.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,324 shares of the insurance provider’s stock after buying an additional 2,641 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in RenaissanceRe were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RNR. Asset Management One Co. Ltd. acquired a new position in RenaissanceRe during the 3rd quarter valued at about $1,564,000. Charles Schwab Investment Management Inc. grew its stake in shares of RenaissanceRe by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock worth $81,208,000 after acquiring an additional 3,070 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of RenaissanceRe by 207.2% during the third quarter. Nordea Investment Management AB now owns 41,871 shares of the insurance provider’s stock valued at $10,539,000 after acquiring an additional 28,241 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at approximately $4,980,000. Finally, Thrivent Financial for Lutherans boosted its stake in RenaissanceRe by 31.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 15,169 shares of the insurance provider’s stock worth $3,684,000 after purchasing an additional 3,622 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.5%

Shares of RNR opened at $281.19 on Friday. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.96 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $285.26. The stock’s 50-day moving average price is $272.57 and its 200-day moving average price is $257.16. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Barclays lifted their price target on RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. TD Cowen reissued a “hold” rating on shares of RenaissanceRe in a report on Thursday, January 8th. Finally, Zacks Research cut RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average price target of $298.07.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.