Raymond James & Associates boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 59.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,968 shares of the insurance provider's stock after purchasing an additional 10,039 shares during the quarter. Raymond James & Associates owned about 0.05% of RenaissanceRe worth $7,346,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of RenaissanceRe during the 1st quarter worth about $46,000. Wedge Capital Management L L P NC bought a new stake in shares of RenaissanceRe during the 2nd quarter worth about $2,887,000. Russell Investments Group Ltd. raised its position in shares of RenaissanceRe by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider's stock worth $6,451,000 after buying an additional 3,962 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of RenaissanceRe during the 1st quarter worth about $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of RenaissanceRe by 47.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider's stock worth $5,815,000 after buying an additional 7,975 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.
RenaissanceRe Trading Down 1.9 %
Shares of RenaissanceRe stock traded down $5.00 during trading on Thursday, hitting $262.40. The stock had a trading volume of 484,945 shares, compared to its average volume of 344,781. The stock has a 50 day simple moving average of $265.51 and a 200 day simple moving average of $239.50. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $284.36. The company has a market capitalization of $13.88 billion, a PE ratio of 5.80, a P/E/G ratio of 1.75 and a beta of 0.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.
Wall Street Analysts Forecast Growth
A number of research firms have commented on RNR. UBS Group dropped their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Evercore ISI lifted their price objective on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 9th. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $289.00.
Get Our Latest Stock Report on RNR
Insider Activity at RenaissanceRe
In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company's stock, valued at approximately $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.
About RenaissanceRe
(
Free Report)
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.
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