CHICAGO TRUST Co NA Decreases Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

CHICAGO TRUST Co NA trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,362 shares of the insurance provider’s stock after selling 108 shares during the quarter. CHICAGO TRUST Co NA’s holdings in RenaissanceRe were worth $1,583,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RNR. Intech Investment Management LLC raised its holdings in shares of RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock valued at $1,608,000 after purchasing an additional 2,490 shares in the last quarter. Algert Global LLC purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at about $1,186,000. Rockefeller Capital Management L.P. acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth about $3,684,000. Fisher Asset Management LLC lifted its stake in RenaissanceRe by 12.3% during the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Bank of America lifted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Evercore ISI boosted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $286.36.

RenaissanceRe Stock Performance

NYSE RNR traded up $0.37 on Monday, hitting $250.42. 202,408 shares of the company’s stock were exchanged, compared to its average volume of 395,832. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 3.61, a P/E/G ratio of 1.31 and a beta of 0.44. The firm’s 50-day moving average price is $263.78 and its two-hundred day moving average price is $254.14. RenaissanceRe Holdings Ltd. has a fifty-two week low of $203.35 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last released 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. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $8.33 earnings per share. The firm’s revenue was up 52.1% on a year-over-year basis. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s payout ratio is currently 2.25%.

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.