Fideuram Intesa Sanpaolo Private Banking S.P.A. Sells 3,935 Shares of RenaissanceRe Holdings Ltd. $RNR

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 30.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,947 shares of the insurance provider’s stock after selling 3,935 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in RenaissanceRe were worth $2,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RNR. CHICAGO TRUST Co NA raised its holdings in shares of RenaissanceRe by 4.2% in the first quarter. CHICAGO TRUST Co NA now owns 9,059 shares of the insurance provider’s stock valued at $2,693,000 after acquiring an additional 365 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in RenaissanceRe during the 1st quarter worth about $2,905,000. Impact Partnership Wealth LLC increased its position in RenaissanceRe by 7.5% during the 1st quarter. Impact Partnership Wealth LLC now owns 2,839 shares of the insurance provider’s stock valued at $844,000 after purchasing an additional 198 shares during the period. Inspire Investing LLC raised its holdings in shares of RenaissanceRe by 15.5% in the 1st quarter. Inspire Investing LLC now owns 5,372 shares of the insurance provider’s stock valued at $1,597,000 after purchasing an additional 719 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of RenaissanceRe by 29.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,801 shares of the insurance provider’s stock valued at $2,616,000 after purchasing an additional 1,989 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 0.1%

Shares of RenaissanceRe stock opened at $326.55 on Friday. The firm’s 50 day moving average price is $299.80 and its 200-day moving average price is $294.15. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $328.39. The company has a market cap of $13.92 billion, a P/E ratio of 5.44, a PEG ratio of 1.23 and a beta of 0.17.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The firm had revenue of $2.19 billion during the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was 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 presently 2.73%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RNR. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price objective for the company from $335.00 to $345.00 in a research note on Wednesday, June 10th. Wells Fargo & Company boosted their price objective on shares of RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Bank of America lowered their target price on RenaissanceRe to $426.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their target price on RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. 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’s stock. According to MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $323.64.

About RenaissanceRe

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.