South Dakota Investment Council Has $21.29 Million Stake in RenaissanceRe Holdings Ltd. $RNR
South Dakota Investment Council reduced its stake in RenaissanceRe Holdings Ltd. by 2.3% in Q2, now owning 87,652 shares valued at $21.29 million. Other hedge funds also adjusted their positions, with notable increases from Amundi and Nisa Investment Advisors. RenaissanceRe's stock opened at $254.21, with a market cap of $11.96 billion. The company reported a quarterly EPS of $15.62, exceeding estimates, and analysts have mixed ratings on the stock, with an average target price of $283.67.
South Dakota Investment Council decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 87,652 shares of the insurance provider's stock after selling 2,085 shares during the quarter. South Dakota Investment Council owned 0.19% of RenaissanceRe worth $21,291,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Amundi grew its holdings in shares of RenaissanceRe by 18.0% during the 1st quarter. Amundi now owns 6,924 shares of the insurance provider's stock worth $1,699,000 after purchasing an additional 1,054 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in RenaissanceRe by 128.4% in the first quarter. Nisa Investment Advisors LLC now owns 1,142 shares of the insurance provider's stock worth $274,000 after purchasing an additional 642 shares during the period. Bridges Investment Management Inc. increased its holdings in RenaissanceRe by 21.9% in the 1st quarter. Bridges Investment Management Inc. now owns 6,020 shares of the insurance provider's stock valued at $1,445,000 after buying an additional 1,080 shares during the period. Jane Street Group LLC raised its stake in shares of RenaissanceRe by 1,180.7% in the 1st quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider's stock valued at $17,812,000 after buying an additional 68,422 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of RenaissanceRe by 3.1% during the 1st quarter. M&T Bank Corp now owns 4,151 shares of the insurance provider's stock worth $996,000 after acquiring an additional 124 shares during the period. Institutional investors own 99.97% of the company's stock.
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RenaissanceRe Stock Down 0.1%
NYSE RNR opened at $254.21 on Friday. The stock's 50 day simple moving average is $248.46 and its 200 day simple moving average is $244.50. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00. The firm has a market cap of $11.96 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.36.
RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping analysts' consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $10.23 earnings per share. The business's revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently issued reports on RNR. Morgan Stanley dropped their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Wolfe Research started coverage on RenaissanceRe in a research note on Monday, September 15th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $303.00 target price on shares of RenaissanceRe in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RenaissanceRe in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on RenaissanceRe from $278.00 to $285.00 and gave the stock an "equal weight" rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of "Hold" and an average target price of $283.67.
View Our Latest Analysis on RenaissanceRe
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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