Benedict Financial Advisors Inc. Grows Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Benedict Financial Advisors Inc. increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,517 shares of the insurance provider’s stock after buying an additional 230 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in RenaissanceRe were worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RNR. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe in the second quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in RenaissanceRe during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. lifted its stake in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in RenaissanceRe in the first quarter worth $46,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Price Performance

RNR traded down $4.21 on Friday, reaching $268.36. The company had a trading volume of 254,924 shares, compared to its average volume of 345,620. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $284.36. The company has a market capitalization of $14.19 billion, a P/E ratio of 5.93, a PEG ratio of 1.80 and a beta of 0.38. The company has a fifty day moving average of $264.11 and a 200-day moving average of $238.33. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.88 by $1.53. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.93 billion. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.96 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of recent research reports. Barclays began coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target on the stock. Evercore ISI upped their target price on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a report on Wednesday, October 9th. UBS Group cut their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley reduced their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $289.00.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Profile

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.