Tidal Investments LLC Has $2.52 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Tidal Investments LLC raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,236 shares of the insurance provider’s stock after purchasing an additional 232 shares during the quarter. Tidal Investments LLC’s holdings in RenaissanceRe were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in RenaissanceRe during the 3rd quarter valued at $30,000. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe in the second quarter valued at about $27,000. UMB Bank n.a. lifted its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in RenaissanceRe during the third quarter worth about $45,000. Finally, V Square Quantitative Management LLC grew its position in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.00.

RenaissanceRe Stock Performance

NYSE:RNR opened at $267.76 on Monday. The business’s fifty day moving average is $272.33 and its 200 day moving average is $250.54. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.31 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business posted $8.33 earnings per share. The company’s revenue was up 52.1% on a year-over-year basis. Research analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

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.