Crossmark Global Holdings Inc. Grows Position in RenaissanceRe Holdings Ltd. (RNR)

Crossmark Global Holdings Inc. increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,092 shares of the insurance provider’s stock after buying an additional 390 shares during the period. Crossmark Global Holdings Inc.’s holdings in RenaissanceRe were worth $587,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its stake in shares of RenaissanceRe by 8.8% in the first quarter. Texas Permanent School Fund now owns 28,658 shares of the insurance provider’s stock worth $4,112,000 after acquiring an additional 2,308 shares during the last quarter. Comerica Bank grew its stake in shares of RenaissanceRe by 3.8% in the first quarter. Comerica Bank now owns 27,772 shares of the insurance provider’s stock worth $4,042,000 after acquiring an additional 1,009 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of RenaissanceRe by 416.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 7,059 shares of the insurance provider’s stock worth $1,014,000 after acquiring an additional 5,691 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of RenaissanceRe by 862.1% in the first quarter. Parallel Advisors LLC now owns 558 shares of the insurance provider’s stock worth $80,000 after acquiring an additional 500 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of RenaissanceRe by 2.3% in the first quarter. First Republic Investment Management Inc. now owns 3,594 shares of the insurance provider’s stock worth $516,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank raised their price objective on shares of RenaissanceRe from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their price objective on shares of RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, April 1st. Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Monday, April 1st. Finally, UBS Group raised their price objective on shares of RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $149.09.

In related news, SVP Sean G. Brosnan sold 1,250 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total value of $182,462.50. Following the completion of the transaction, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Ross Curtis sold 7,500 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $152.00, for a total value of $1,140,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,503 shares of the company’s stock, valued at $16,036,456. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock valued at $3,118,463. 1.60% of the stock is owned by company insiders.

Shares of RNR stock opened at $170.44 on Friday. The firm has a market capitalization of $7.25 billion, a P/E ratio of 18.59, a PEG ratio of 1.40 and a beta of 0.52. RenaissanceRe Holdings Ltd. has a one year low of $117.35 and a one year high of $170.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.20 by $0.40. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $738.70 million. RenaissanceRe had a return on equity of 9.25% and a net margin of 18.18%. RenaissanceRe’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 12.32 earnings per share for the current fiscal year.

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About RenaissanceRe

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.

See Also: Green Investing

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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