RenaissanceRe Holdings Ltd. $RNR Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 1.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 91,200 shares of the insurance provider’s stock after selling 1,600 shares during the period. Swiss National Bank’s holdings in RenaissanceRe were worth $27,107,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP raised its holdings in RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in 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 in the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $36,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of RenaissanceRe by 33.6% in the 4th 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 in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Trading Down 0.9%

NYSE:RNR opened at $316.86 on Friday. The company has a market capitalization of $13.51 billion, a PE ratio of 5.44, a P/E/G ratio of 1.24 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $329.57. The stock’s 50 day moving average price is $304.42 and its 200 day moving average price is $298.21. 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 (NYSE:RNRGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, beating analysts’ consensus estimates of $11.72 by $1.20. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.57 billion. RenaissanceRe had a return on equity of 23.25% and a net margin of 23.65%.During the same quarter in the previous year, the business earned $12.29 earnings per share. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.57 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.41 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is 2.73%.

Analysts Set New Price Targets

RNR has been the subject of several recent analyst reports. Mizuho lifted their price objective on shares of RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on RenaissanceRe from $329.00 to $360.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Morgan Stanley upped their price objective on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of RenaissanceRe in a report on Thursday. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $335.33.

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RenaissanceRe Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report).

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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