Vanguard Group Inc. Trims Holdings in RenaissanceRe Holdings Ltd. $RNR

Vanguard Group Inc. decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,063,321 shares of the insurance provider’s stock after selling 98,367 shares during the quarter. Vanguard Group Inc. owned 10.76% of RenaissanceRe worth $1,229,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in RenaissanceRe by 13.8% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,897 shares of the insurance provider’s stock valued at $1,655,000 after acquiring an additional 838 shares during the period. AE Wealth Management LLC purchased a new position in shares of RenaissanceRe during the first quarter worth $256,000. Avantax Advisory Services Inc. raised its holdings in shares of RenaissanceRe by 7.7% during the first quarter. Avantax Advisory Services Inc. now owns 2,589 shares of the insurance provider’s stock worth $621,000 after purchasing an additional 185 shares during the last quarter. Cetera Investment Advisers lifted its position in RenaissanceRe by 4.0% during the first quarter. Cetera Investment Advisers now owns 4,420 shares of the insurance provider’s stock valued at $1,061,000 after purchasing an additional 171 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in RenaissanceRe by 0.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,518 shares of the insurance provider’s stock valued at $3,244,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Down 1.8%

Shares of NYSE:RNR opened at $256.89 on Friday. The business’s 50 day moving average price is $254.74 and its 200-day moving average price is $247.04. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $290.78. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 2.08 and a beta of 0.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping the consensus estimate of $9.49 by $6.13. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.23 EPS. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on RenaissanceRe from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. The Goldman Sachs Group started coverage on RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 target price on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $303.00 price target on shares of RenaissanceRe in a research report on Thursday, October 9th. Cantor Fitzgerald raised RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Finally, UBS Group upped their price objective on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $284.50.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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, binding facilities, and regional U.S.