Middleton & Co. Inc. MA Has $2.10 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Middleton & Co. Inc. MA lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 38.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,276 shares of the insurance provider’s stock after selling 5,213 shares during the period. Middleton & Co. Inc. MA’s holdings in RenaissanceRe were worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Exchange Traded Concepts LLC increased its position in RenaissanceRe by 1.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock valued at $852,000 after buying an additional 40 shares in the last quarter. Benedict Financial Advisors Inc. grew its stake in RenaissanceRe by 0.3% in the second quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after acquiring an additional 42 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of RenaissanceRe by 3.8% during the third quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 46 shares in the last quarter. Rossby Financial LCC raised its position in shares of RenaissanceRe by 6.2% during the second quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 49 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $272.40 on Wednesday. The company has a market capitalization of $12.56 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 6.33 and a beta of 0.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.40. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $285.26. The company has a 50-day simple moving average of $270.52 and a 200 day simple moving average of $255.19.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $10.23 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 15th. RenaissanceRe’s dividend payout ratio is 4.45%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RNR. Morgan Stanley restated an “overweight” rating and set a $300.00 price target on shares of RenaissanceRe in a research note on Tuesday, December 16th. Evercore ISI boosted their target price on shares of RenaissanceRe from $250.00 to $283.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Cowen restated a “hold” rating on shares of RenaissanceRe in a report on Thursday, January 8th. TD Cowen lifted their price target on RenaissanceRe from $278.00 to $280.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $303.00 price objective on shares of RenaissanceRe in a research note on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $298.07.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.