Livforsakringsbolaget Skandia Omsesidigt cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,869 shares of the insurance provider’s stock after selling 1,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in RenaissanceRe were worth $2,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Nepsis Capital Management Inc. raised its stake in RenaissanceRe by 2.3% in the fourth quarter. Nepsis Capital Management Inc. now owns 59,919 shares of the insurance provider’s stock valued at $7,525,000 after buying an additional 1,342 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in RenaissanceRe by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 154,678 shares of the insurance provider’s stock valued at $19,427,000 after buying an additional 5,697 shares during the last quarter. Marathon Asset Management LLP raised its stake in RenaissanceRe by 3.5% in the fourth quarter. Marathon Asset Management LLP now owns 138,596 shares of the insurance provider’s stock valued at $17,406,000 after buying an additional 4,637 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in RenaissanceRe by 125.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,500 shares of the insurance provider’s stock valued at $565,000 after buying an additional 2,500 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in RenaissanceRe by 54.2% in the third quarter. Neuberger Berman Group LLC now owns 85,044 shares of the insurance provider’s stock valued at $11,493,000 after buying an additional 29,910 shares during the last quarter. Institutional investors own 93.38% of the company’s stock.

A number of research firms have commented on RNR. Zacks Investment Research cut RenaissanceRe from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. UBS Group decreased their price target on RenaissanceRe from $136.00 to $135.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $143.00 price target on shares of RenaissanceRe in a research note on Thursday, September 21st. Morgan Stanley decreased their price target on RenaissanceRe from $144.00 to $142.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of RenaissanceRe in a research note on Thursday, December 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $146.50.

In related news, SVP Sean G. Brosnan sold 1,391 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $135.73, for a total transaction of $188,800.43. Following the sale, the senior vice president now directly owns 8,405 shares of the company’s stock, valued at $1,140,810.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Odonnell sold 5,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 193,447 shares in the company, valued at $26,227,544.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,391 shares of company stock valued at $1,524,950. Company insiders own 1.80% of the company’s stock.

RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at $121.26 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $116.50 and a 12 month high of $152.00. The stock has a market capitalization of $4,920.38, a PE ratio of -26.53, a PEG ratio of 1.33 and a beta of 0.67. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.25) by ($1.56). RenaissanceRe had a negative return on equity of 5.82% and a negative net margin of 7.60%. The firm had revenue of $483.22 million during the quarter, compared to analysts’ expectations of $300.46 million. During the same quarter in the previous year, the business earned $2.09 earnings per share. The company’s revenue for the quarter was up 70.0% compared to the same quarter last year. research analysts anticipate that RenaissanceRe Holdings Ltd. will post -8.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, December 14th. RenaissanceRe’s payout ratio is -28.01%.

RenaissanceRe announced that its board has approved a stock repurchase program on Friday, November 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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RenaissanceRe Company Profile

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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