RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Holdings Lowered by Janus Henderson Group PLC
Janus Henderson Group PLC reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317,141 shares of the insurance provider’s stock after selling 119,540 shares during the quarter. Janus Henderson Group PLC’s holdings in RenaissanceRe were worth $258,186,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RNR. Vigilant Capital Management LLC bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $39,000. Sowell Financial Services LLC raised its holdings in shares of RenaissanceRe by 193.1% during the fourth quarter. Sowell Financial Services LLC now owns 299 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 197 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $95,000. Wealthfront Advisers LLC acquired a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $203,000. Finally, Caxton Associates LP acquired a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $233,000. Institutional investors and hedge funds own 94.12% of the company’s stock.
A number of equities research analysts have recently issued reports on RNR shares. Barclays restated a “sell” rating and set a $190.00 price target on shares of RenaissanceRe in a report on Tuesday, January 7th. ValuEngine upgraded shares of RenaissanceRe from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Buckingham Research boosted their price target on shares of RenaissanceRe from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Co restated a “buy” rating and set a $223.00 price target on shares of RenaissanceRe in a report on Thursday, February 6th. Finally, Citigroup started coverage on shares of RenaissanceRe in a report on Tuesday, January 21st. They set a “neutral” rating and a $192.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. RenaissanceRe presently has an average rating of “Hold” and a consensus target price of $192.67.
RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.41). RenaissanceRe had a net margin of 17.82% and a return on equity of 8.46%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $517.15 million. During the same period in the previous year, the firm posted $0.02 earnings per share. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 15.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 12th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. RenaissanceRe’s payout ratio is presently 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 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, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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