Arbejdsmarkedets Tillaegspension Sells 2,170 Shares of RenaissanceRe Holdings Ltd. $RNR

Arbejdsmarkedets Tillaegspension lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% in the first quarter, HoldingsChannel reports. The fund owned 86,129 shares of the insurance provider’s stock after selling 2,170 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in RenaissanceRe were worth $25,600,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new position in RenaissanceRe in the 4th quarter valued at about $36,000. Quarry LP lifted its holdings in shares of RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of RenaissanceRe by 235.0% during 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 during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of RenaissanceRe by 33.6% during 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. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RNR shares. Cantor Fitzgerald upped their price objective on RenaissanceRe from $340.00 to $354.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley raised their price objective on RenaissanceRe from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Mizuho upped their target price on RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company lifted their price target on RenaissanceRe from $306.00 to $329.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Evercore set a $320.00 price target on RenaissanceRe in a report on Friday. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $331.80.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $314.65 on Monday. The company has a market capitalization of $13.41 billion, a P/E ratio of 5.25, a price-to-earnings-growth ratio of 1.17 and a beta of 0.17. The company’s 50-day moving average is $300.76 and its 200 day moving average is $295.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $329.57.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. The business 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, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.59 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.41 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s payout ratio is presently 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.