Orion Portfolio Solutions LLC Has $1.49 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Orion Portfolio Solutions LLC lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,458 shares of the insurance provider’s stock after selling 197 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in RenaissanceRe were worth $1,487,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in RenaissanceRe in the third quarter valued at about $30,000. Blue Trust Inc. acquired a new stake in RenaissanceRe during the second quarter valued at approximately $27,000. UMB Bank n.a. boosted its holdings in 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. bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $45,000. Finally, V Square Quantitative Management LLC raised its holdings in shares of 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 buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RNR. Bank of America boosted their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI increased their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $293.00.

RenaissanceRe Stock Down 0.0 %

Shares of RNR opened at $267.82 on Friday. The firm has a market capitalization of $13.91 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.32 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The business’s fifty day moving average price is $272.33 and its two-hundred day moving average price is $250.20.

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

RenaissanceRe Dividend Announcement

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

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

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.