Fulton Bank N.A. Grows Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fulton Bank N.A. raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,353 shares of the insurance provider’s stock after purchasing an additional 146 shares during the quarter. Fulton Bank N.A.’s holdings in RenaissanceRe were worth $749,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in RenaissanceRe during the 1st quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in RenaissanceRe during the 1st quarter valued at approximately $31,000. Mather Group LLC. acquired a new position in shares of RenaissanceRe in the 1st quarter worth approximately $34,000. GAMMA Investing LLC acquired a new position in shares of RenaissanceRe in the 4th quarter worth approximately $37,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of RenaissanceRe in the 4th quarter worth approximately $39,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Bank of America lifted their target price on RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Evercore ISI lifted their target price on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded RenaissanceRe from a “hold” rating to a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $263.40.

RenaissanceRe Trading Up 1.4 %

RenaissanceRe stock traded up $3.16 during mid-day trading on Wednesday, hitting $230.52. 62,620 shares of the company’s stock were exchanged, compared to its average volume of 343,092. The firm has a market capitalization of $12.02 billion, a P/E ratio of 5.02, a PEG ratio of 1.29 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company’s 50 day simple moving average is $224.11 and its 200-day simple moving average is $224.94.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s payout ratio is presently 3.45%.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.