RenaissanceRe Holdings Ltd. $RNR Shares Sold by Capital World Investors

Capital World Investors lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,547,152 shares of the insurance provider’s stock after selling 102,366 shares during the period. Capital World Investors owned approximately 5.52% of RenaissanceRe worth $716,157,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP increased its position in shares of RenaissanceRe by 65.0% in the third 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 increased its position in shares of RenaissanceRe by 235.0% in the third 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. Kingdom Financial Group LLC. acquired a new stake in shares of RenaissanceRe in the fourth quarter worth $36,000. SBI Securities Co. Ltd. boosted its stake in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in shares of RenaissanceRe by 134.7% in the fourth quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RNR. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company upped their target price on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Barclays decreased their target price on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Citigroup upped their target price on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Bank of America decreased their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Trading Up 0.2%

NYSE RNR opened at $288.94 on Monday. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.82, a price-to-earnings-growth ratio of 0.79 and a beta of 0.19. The company’s fifty day moving average price is $299.29 and its two-hundred day moving average price is $288.43.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The firm had revenue of $2.19 billion for the quarter. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio is 2.73%.

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.