ProShare Advisors LLC Sells 10,254 Shares of RenaissanceRe Holdings Ltd. $RNR

ProShare Advisors LLC cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,644 shares of the insurance provider’s stock after selling 10,254 shares during the period. ProShare Advisors LLC’s holdings in RenaissanceRe were worth $38,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RNR. Lightrock Netherlands B.V. boosted its holdings in RenaissanceRe by 4,690.1% in the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after purchasing an additional 996,266 shares in the last quarter. M&T Bank Corp boosted its holdings in RenaissanceRe by 8,296.5% in the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock worth $81,635,000 after purchasing an additional 286,894 shares in the last quarter. AQR Capital Management LLC boosted its holdings in RenaissanceRe by 154.5% in the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock worth $99,769,000 after purchasing an additional 241,001 shares in the last quarter. Millennium Management LLC boosted its holdings in RenaissanceRe by 347.6% in the third quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock worth $60,161,000 after purchasing an additional 183,988 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in RenaissanceRe by 330.0% in the third quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock worth $44,277,000 after purchasing an additional 133,820 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Up 1.3%

Shares of RNR stock opened at $302.18 on Wednesday. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The firm has a market cap of $12.88 billion, a PE ratio of 5.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.22. The stock has a 50 day moving average of $300.68 and a 200-day moving average of $286.13. 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:RNR) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The company had revenue of $2.19 billion during the quarter. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 39.37 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RNR shares. Evercore set a $309.00 price objective on shares of RenaissanceRe in a report on Thursday, April 9th. TD Cowen raised their price target on RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Barclays lowered their price target on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Bank of America lowered their price target on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Mizuho set a $325.00 price target on RenaissanceRe in a research report on Monday, May 4th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe 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.