Cambiar Investors LLC cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,501 shares of the insurance provider’s stock after selling 1,376 shares during the period. Cambiar Investors LLC’s holdings in RenaissanceRe were worth $2,612,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of RenaissanceRe by 11.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,461 shares of the insurance provider’s stock valued at $3,184,000 after buying an additional 1,695 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of RenaissanceRe by 46.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 78,577 shares of the insurance provider’s stock valued at $15,199,000 after buying an additional 24,970 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of RenaissanceRe by 40.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the insurance provider’s stock valued at $2,031,000 after buying an additional 3,000 shares during the period. Navellier & Associates Inc bought a new stake in RenaissanceRe in the 3rd quarter valued at about $813,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in RenaissanceRe by 29.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,260 shares of the insurance provider’s stock valued at $630,000 after purchasing an additional 737 shares during the last quarter. 95.09% of the stock is owned by institutional investors and hedge funds.
RNR stock opened at $189.31 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $118.28 and a 52 week high of $195.18. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.31. The firm’s 50-day moving average is $189.14 and its two-hundred day moving average is $176.68. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.26.
RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $1.20. RenaissanceRe had a net margin of 19.47% and a return on equity of 8.87%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $824.40 million. During the same period in the previous year, the firm earned $5.23 EPS. RenaissanceRe’s revenue was up 69.2% on a year-over-year basis. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 14.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.72%. RenaissanceRe’s payout ratio is currently 14.83%.
In related news, SVP Sean G. Brosnan sold 931 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $183.91, for a total value of $171,220.21. Following the sale, the senior vice president now directly owns 8,779 shares in the company, valued at approximately $1,614,545.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Odonnell sold 28,375 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $182.05, for a total transaction of $5,165,668.75. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
RNR has been the topic of a number of recent analyst reports. Wells Fargo & Co boosted their price target on shares of RenaissanceRe from $155.00 to $175.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Barclays boosted their price target on shares of RenaissanceRe from $165.00 to $175.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $154.00 to $187.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of RenaissanceRe from $164.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $173.50.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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