Janus Henderson Group PLC Trims Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Janus Henderson Group PLC lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 101,172 shares of the insurance provider’s stock after selling 11,830 shares during the period. Janus Henderson Group PLC’s holdings in RenaissanceRe were worth $25,178,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in RenaissanceRe during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley upgraded shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Bank of America lowered their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $282.60.

Insider Transactions at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares of the company’s stock, valued at $6,776,009.16. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

RenaissanceRe Stock Up 1.4%

Shares of RenaissanceRe stock opened at $242.88 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $239.92 and its two-hundred day simple moving average is $249.29. The company has a market cap of $11.82 billion, a P/E ratio of 6.94, a PEG ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.18 earnings per share. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, June 13th. RenaissanceRe’s dividend payout ratio is presently 5.10%.

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.