Janus Henderson Group PLC Sells 11,830 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Janus Henderson Group PLC trimmed its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,172 shares of the insurance provider’s stock after selling 11,830 shares during the period. Janus Henderson Group PLC owned about 0.19% of RenaissanceRe worth $25,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Focus Partners Wealth bought a new position in shares of RenaissanceRe in the fourth quarter valued at $378,000. Ensign Peak Advisors Inc lifted its stake in shares of RenaissanceRe by 4.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 16,619 shares of the insurance provider’s stock valued at $4,135,000 after buying an additional 657 shares in the last quarter. Ethic Inc. lifted its stake in shares of RenaissanceRe by 23.9% in the fourth quarter. Ethic Inc. now owns 4,104 shares of the insurance provider’s stock valued at $1,021,000 after buying an additional 791 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of RenaissanceRe by 4.2% in the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider’s stock valued at $2,666,000 after buying an additional 431 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of RenaissanceRe by 7.2% in the fourth quarter. Cetera Investment Advisers now owns 4,249 shares of the insurance provider’s stock valued at $1,057,000 after buying an additional 285 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RNR shares. Barclays dropped their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Bank of America lowered their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Keefe, Bruyette & Woods increased their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley upgraded shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $235.00 to $275.00 in a report on Friday, April 25th. Finally, Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $282.60.

Insiders Place Their Bets

In related news, CAO James Christopher Fraser sold 332 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the transaction, the chief accounting officer now owns 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $242.88 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a 50-day simple moving average of $239.92 and a 200 day simple moving average of $249.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $11.82 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.18 EPS. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. RenaissanceRe’s dividend payout ratio is presently 5.10%.

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.