Aperio Group LLC trimmed its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,654 shares of the insurance provider’s stock after selling 1,314 shares during the quarter. Aperio Group LLC owned approximately 0.10% of RenaissanceRe worth $8,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of RNR. State Street Corp lifted its holdings in RenaissanceRe by 9.0% in the 3rd quarter. State Street Corp now owns 2,276,400 shares of the insurance provider’s stock worth $386,396,000 after buying an additional 188,461 shares during the period. Boston Partners boosted its holdings in RenaissanceRe by 29.2% in the fourth quarter. Boston Partners now owns 1,764,824 shares of the insurance provider’s stock worth $292,644,000 after acquiring an additional 398,563 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in RenaissanceRe by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 944,006 shares of the insurance provider’s stock worth $156,535,000 after acquiring an additional 15,243 shares in the last quarter. Samlyn Capital LLC boosted its holdings in RenaissanceRe by 77.0% in the third quarter. Samlyn Capital LLC now owns 841,393 shares of the insurance provider’s stock worth $142,818,000 after acquiring an additional 366,156 shares in the last quarter. Finally, Polar Capital LLP boosted its holdings in RenaissanceRe by 3.7% in the third quarter. Polar Capital LLP now owns 466,656 shares of the insurance provider’s stock worth $79,210,000 after acquiring an additional 16,656 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.
Several equities research analysts have commented on RNR shares. Wells Fargo & Company dropped their target price on RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft decreased their price target on RenaissanceRe from $192.00 to $186.00 and set a “hold” rating for the company in a research note on Thursday, October 29th. The Goldman Sachs Group upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $194.00 to $199.00 in a research note on Friday, January 8th. TheStreet upgraded RenaissanceRe from a “c+” rating to a “b-” rating in a research note on Wednesday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $160.00 to $162.00 and gave the stock an “underweight” rating in a research note on Monday, January 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $186.50.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Monday, January 25th. The insurance provider reported ($1.59) EPS for the quarter, beating analysts’ consensus estimates of ($2.15) by $0.56. RenaissanceRe had a return on equity of 2.44% and a net margin of 12.46%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Monday, March 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, March 12th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.35. RenaissanceRe’s dividend payout ratio is 15.33%.
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 hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, 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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