Royce & Associates LP trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,489 shares of the insurance provider’s stock after selling 23,961 shares during the period. Royce & Associates LP’s holdings in RenaissanceRe were worth $23,755,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. raised its position in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in RenaissanceRe by 20.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 39 shares during the period. AMG National Trust Bank raised its position in RenaissanceRe by 0.7% during the third quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock worth $1,469,000 after acquiring an additional 40 shares during the period. Signaturefd LLC raised its position in RenaissanceRe by 8.9% during the fourth quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 41 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in RenaissanceRe by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock worth $509,000 after acquiring an additional 51 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.
RenaissanceRe Stock Performance
NYSE:RNR opened at $294.91 on Wednesday. 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 firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 4.92, a PEG ratio of 0.78 and a beta of 0.22. The company’s 50-day moving average is $301.08 and its two-hundred day moving average is $287.51. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20.
RenaissanceRe Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Evercore set a $309.00 price objective on shares of RenaissanceRe in a research report on Thursday, April 9th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Friday, March 27th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $306.00 to $340.00 in a research report on Thursday, April 9th. Keefe, Bruyette & Woods upped their price objective on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company upped their price objective on shares of RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $322.93.
Check Out Our Latest Stock Report on RenaissanceRe
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.
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