RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,549 shares of the insurance provider's stock after acquiring an additional 2,695 shares during the period. Bank of Montreal Can owned approximately 0.09% of RenaissanceRe worth $12,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe in the 2nd quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe in the third quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in shares of RenaissanceRe during the second quarter worth about $31,000. UMB Bank n.a. increased its holdings 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 acquiring an additional 95 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of RenaissanceRe in the 3rd quarter valued at approximately $45,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares of the company's stock, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays started coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 price target for the company. JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $274.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.00.

RenaissanceRe Stock Performance

RenaissanceRe stock traded up $1.32 during mid-day trading on Monday, hitting $287.47. The company had a trading volume of 435,040 shares, compared to its average volume of 359,201. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 4.09, a P/E/G ratio of 1.40 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The company's fifty day moving average is $270.90 and its 200-day moving average is $247.06. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

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

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.54%. RenaissanceRe's dividend payout ratio is presently 2.25%.

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.