RenaissanceRe Holdings Ltd. $RNR Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,900 shares of the insurance provider’s stock after selling 400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in RenaissanceRe were worth $2,891,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RNR. Price T Rowe Associates Inc. MD increased its position in RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock worth $599,049,000 after purchasing an additional 676,125 shares in the last quarter. Nuveen LLC acquired a new stake in RenaissanceRe during the 1st quarter worth approximately $54,087,000. Cooke & Bieler LP increased its position in RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock worth $299,458,000 after purchasing an additional 190,139 shares in the last quarter. Great Lakes Advisors LLC increased its position in RenaissanceRe by 49.3% during the 1st quarter. Great Lakes Advisors LLC now owns 326,480 shares of the insurance provider’s stock worth $78,355,000 after purchasing an additional 107,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in RenaissanceRe by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock worth $183,175,000 after purchasing an additional 101,060 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a “market perform” rating in a research report on Monday, July 28th. Evercore ISI set a $244.00 price objective on shares of RenaissanceRe and gave the company an “in-line” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $303.00 price objective on shares of RenaissanceRe in a research report on Thursday. Citigroup assumed coverage on shares of RenaissanceRe in a research report on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $285.55.

RenaissanceRe Stock Performance

Shares of RNR opened at $260.19 on Friday. The business’s fifty day moving average price is $246.33 and its 200 day moving average price is $243.21. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The stock has a market capitalization of $12.25 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 2.41 and a beta of 0.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the business posted $12.41 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe’s dividend payout ratio (DPR) is 4.09%.

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.