Glenmede Trust Co. NA lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 30.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,513 shares of the insurance provider’s stock after selling 25,097 shares during the quarter. Glenmede Trust Co. NA owned about 0.14% of RenaissanceRe worth $6,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. United Services Automobile Association boosted its holdings in RenaissanceRe by 1,567.9% in the second quarter. United Services Automobile Association now owns 107,078 shares of the insurance provider’s stock worth $7,131,000 after acquiring an additional 100,658 shares in the last quarter. Keybank National Association OH boosted its holdings in RenaissanceRe by 15.2% in the second quarter. Keybank National Association OH now owns 11,150 shares of the insurance provider’s stock worth $1,342,000 after acquiring an additional 1,475 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in RenaissanceRe by 34.0% in the second quarter. State of Alaska Department of Revenue now owns 8,877 shares of the insurance provider’s stock worth $1,067,000 after acquiring an additional 2,250 shares in the last quarter. First Trust Advisors LP acquired a new stake in RenaissanceRe in the second quarter worth about $5,697,000. Finally, ING Groep NV acquired a new stake in RenaissanceRe in the second quarter worth about $742,000. 94.76% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on RNR. Citigroup raised their price target on RenaissanceRe from $144.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Goldman Sachs Group began coverage on RenaissanceRe in a report on Monday, June 18th. They issued a “neutral” rating and a $131.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. RenaissanceRe presently has an average rating of “Hold” and an average price target of $138.17.

Shares of NYSE RNR opened at $134.95 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -16.16, a price-to-earnings-growth ratio of 1.06 and a beta of 0.59. RenaissanceRe Holdings Ltd. has a fifty-two week low of $116.50 and a fifty-two week high of $141.77.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, July 24th. The insurance provider reported $5.23 earnings per share for the quarter, topping the consensus estimate of $2.94 by $2.29. The business had revenue of $604.50 million during the quarter, compared to the consensus estimate of $556.85 million. RenaissanceRe had a negative return on equity of 3.54% and a negative net margin of 11.73%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.79 earnings per share. equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 13.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 13th. RenaissanceRe’s payout ratio is -15.81%.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its 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, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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