RenaissanceRe Holdings Ltd. $RNR Stock Position Boosted by Leuthold Group LLC

Leuthold Group LLC lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 79.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,043 shares of the insurance provider’s stock after purchasing an additional 13,765 shares during the quarter. RenaissanceRe comprises 0.9% of Leuthold Group LLC’s holdings, making the stock its 29th biggest position. Leuthold Group LLC’s holdings in RenaissanceRe were worth $9,879,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Retirement Systems of Alabama lifted its stake in RenaissanceRe by 18.4% in the third quarter. Retirement Systems of Alabama now owns 52,195 shares of the insurance provider’s stock valued at $16,610,000 after buying an additional 8,100 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of RenaissanceRe by 52.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,692 shares of the insurance provider’s stock worth $2,484,000 after acquiring an additional 2,655 shares in the last quarter. Candriam S.C.A. increased its position in shares of RenaissanceRe by 43.1% during the third quarter. Candriam S.C.A. now owns 126,892 shares of the insurance provider’s stock worth $40,528,000 after acquiring an additional 38,201 shares in the last quarter. Ethic Inc. raised its holdings in shares of RenaissanceRe by 18.2% during the third quarter. Ethic Inc. now owns 6,698 shares of the insurance provider’s stock worth $2,132,000 after acquiring an additional 1,031 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of RenaissanceRe by 19.7% during the third quarter. Parallel Advisors LLC now owns 843 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 139 shares during the period. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

Shares of RNR opened at $348.10 on Tuesday. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.91 and a beta of 0.11. RenaissanceRe Holdings Ltd. has a 12 month low of $251.60 and a 12 month high of $363.84. The firm has a fifty day simple moving average of $335.54 and a 200 day simple moving average of $312.37. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.56 by $2.15. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $15.62 EPS. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 49.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RNR shares. TD Cowen boosted their price objective on shares of RenaissanceRe from $315.00 to $320.00 and gave the company a “hold” rating in a research report on Monday, October 12th. Citigroup boosted their price target on RenaissanceRe from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Mizuho set a $352.00 price objective on RenaissanceRe in a research report on Monday, November 2nd. Wells Fargo & Company increased their price objective on RenaissanceRe from $319.00 to $338.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Finally, Bank of America boosted their target price on RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $343.69.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a Bermuda-based provider of reinsurance and insurance, serving clients around the world. The company focuses on helping insurers and other businesses manage risks that can be difficult to predict or absorb.

Its main offerings include property catastrophe reinsurance, which helps protect insurers against losses from events such as hurricanes and earthquakes, as well as casualty and specialty reinsurance and insurance. RenaissanceRe also manages capital on behalf of third-party investors and uses risk modeling to assess and manage its exposure.

Founded in Bermuda in 1993, RenaissanceRe was established to address demand for catastrophe risk coverage.