Andra AP fonden lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,300 shares of the insurance provider’s stock after buying an additional 9,916 shares during the period. Andra AP fonden owned about 0.26% of RenaissanceRe Holdings worth $14,095,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of RenaissanceRe Holdings by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,019 shares of the insurance provider’s stock worth $294,000 after buying an additional 19 shares in the last quarter. Moon Capital Management LLC raised its holdings in shares of RenaissanceRe Holdings by 0.3% during the 2nd quarter. Moon Capital Management LLC now owns 17,786 shares of the insurance provider’s stock worth $2,473,000 after buying an additional 55 shares in the last quarter. M&T Bank Corp raised its holdings in shares of RenaissanceRe Holdings by 0.9% during the 2nd quarter. M&T Bank Corp now owns 8,215 shares of the insurance provider’s stock worth $1,142,000 after buying an additional 74 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of RenaissanceRe Holdings by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,807 shares of the insurance provider’s stock worth $390,000 after buying an additional 75 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its holdings in shares of RenaissanceRe Holdings by 5.2% during the 2nd quarter. ETRADE Capital Management LLC now owns 1,637 shares of the insurance provider’s stock worth $228,000 after buying an additional 81 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

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RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings results on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($12.25) by ($1.56). The firm had revenue of $483.22 million for the quarter, compared to analysts’ expectations of $300.46 million. RenaissanceRe Holdings had a negative net margin of 7.60% and a negative return on equity of 5.82%. The company’s revenue for the quarter was up 70.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS.

RenaissanceRe Holdings declared that its board has approved a stock buyback program on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, CEO Kevin Odonnell sold 5,000 shares of RenaissanceRe Holdings stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $135.58, for a total value of $677,900.00. Following the transaction, the chief executive officer now owns 193,447 shares in the company, valued at $26,227,544.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on RNR shares. BidaskClub cut RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Wells Fargo & Company set a $140.00 target price on RenaissanceRe Holdings and gave the stock a “hold” rating in a report on Wednesday, October 4th. Zacks Investment Research cut RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. ValuEngine cut RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, J P Morgan Chase & Co cut RenaissanceRe Holdings from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $165.00 to $145.00 in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $143.48.

About RenaissanceRe Holdings

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

Institutional Ownership by Quarter for RenaissanceRe Holdings (NYSE:RNR)

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