Royce & Associates LP Cuts Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Royce & Associates LP lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,489 shares of the insurance provider’s stock after selling 23,961 shares during the period. Royce & Associates LP owned about 0.18% of RenaissanceRe worth $23,755,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. increased its holdings in RenaissanceRe by 16.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after buying an additional 16,448 shares during the period. Dimensional Fund Advisors LP increased its holdings in RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after buying an additional 45,936 shares during the period. New Age Alpha Advisors LLC increased its holdings in RenaissanceRe by 97.2% during the third quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock valued at $5,165,000 after buying an additional 10,250 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in RenaissanceRe by 135.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after buying an additional 112,910 shares during the period. Finally, M&T Bank Corp increased its holdings in RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock valued at $81,635,000 after buying an additional 286,894 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 0.2%

NYSE:RNR opened at $294.91 on Wednesday. The company has a market cap of $12.57 billion, a PE ratio of 4.92, a P/E/G ratio of 0.78 and a beta of 0.22. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $318.20. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $301.08 and its two-hundred day moving average is $287.51.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RNR. Bank of America cut their price objective on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Barclays cut their price objective on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. UBS Group lifted their price objective on shares of RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. TD Cowen lifted their price objective on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of RenaissanceRe in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $322.93.

RenaissanceRe Company 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.