Great Lakes Advisors LLC Sells 7,570 Shares of RenaissanceRe Holdings Ltd. $RNR

Great Lakes Advisors LLC trimmed its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 482,713 shares of the insurance provider’s stock after selling 7,570 shares during the period. RenaissanceRe accounts for 1.1% of Great Lakes Advisors LLC’s portfolio, making the stock its 23rd largest position. Great Lakes Advisors LLC owned 1.05% of RenaissanceRe worth $135,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kingdom Financial Group LLC. bought a new position in shares of RenaissanceRe in the 4th quarter worth $36,000. Quarry LP raised its position in shares of RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of RenaissanceRe by 235.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of RenaissanceRe by 134.7% in the 4th quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 101 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Up 0.9%

Shares of NYSE:RNR opened at $298.39 on Friday. The business’s 50-day moving average is $298.91 and its 200 day moving average is $289.24. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $318.20. The firm has a market capitalization of $12.72 billion, a P/E ratio of 4.97, a P/E/G ratio of 0.81 and a beta of 0.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio is currently 2.73%.

Analysts Set New Price Targets

Several research analysts have recently commented on RNR shares. Wells Fargo & Company boosted their price target on RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen upped their target price on RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Mizuho set a $325.00 target price on RenaissanceRe in a research report on Monday, May 4th. Finally, Barclays reduced their target price on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.64.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.