Leuthold Group LLC Boosts Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Leuthold Group LLC raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 31.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,661 shares of the insurance provider’s stock after purchasing an additional 7,500 shares during the quarter. Leuthold Group LLC owned 0.06% of RenaissanceRe worth $6,206,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,220,565.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carol P. Sanders sold 880 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were 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 owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Price Performance

Shares of RNR traded up $1.12 during trading hours on Tuesday, reaching $224.10. 19,683 shares of the company traded hands, compared to its average volume of 364,359. The stock has a fifty day simple moving average of $226.35 and a 200 day simple moving average of $216.32. 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 market capitalization of $11.85 billion, a PE ratio of 4.93, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21.

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

Analyst Ratings Changes

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

RenaissanceRe Company 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.