Cambiar Investors LLC Has $1.88 Million Stake in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Cambiar Investors LLC reduced its stake in RenaissanceRe Holdings Ltd. by 16.5%, selling 1,552 shares, and now holds 7,841 shares worth approximately $1.88 million.
• RenaissanceRe reported earnings of $12.29 per share for the last quarter, exceeding analysts' expectations of $10.28, despite a 2.4% revenue decline year-over-year.
• The company will pay a quarterly dividend of $0.40 on September 30, with an annualized yield of 0.7%.

Cambiar Investors LLC lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,841 shares of the insurance provider's stock after selling 1,552 shares during the quarter. Cambiar Investors LLC's holdings in RenaissanceRe were worth $1,882,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its position in RenaissanceRe by 9.1% during the first quarter. Raymond James Financial Inc. now owns 37,249 shares of the insurance provider's stock worth $8,940,000 after buying an additional 3,094 shares in the last quarter. Cresset Asset Management LLC grew its position in RenaissanceRe by 15.8% during the first quarter. Cresset Asset Management LLC now owns 1,558 shares of the insurance provider's stock worth $374,000 after buying an additional 213 shares in the last quarter. American Century Companies Inc. grew its position in RenaissanceRe by 38.0% during the first quarter. American Century Companies Inc. now owns 110,943 shares of the insurance provider's stock worth $26,626,000 after buying an additional 30,574 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in RenaissanceRe during the first quarter worth approximately $7,123,000. Finally, Aberdeen Group plc grew its position in RenaissanceRe by 151.6% during the first quarter. Aberdeen Group plc now owns 27,320 shares of the insurance provider's stock worth $6,557,000 after buying an additional 16,463 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

RNR has been the subject of several recent analyst reports. Wells Fargo & Company restated an "equal weight" rating and set a $269.00 target price (up from $267.00) on shares of RenaissanceRe in a research note on Thursday, July 10th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Morgan Stanley cut their target price on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Barclays upped their target price on RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, UBS Group upped their target price on RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $282.09.

RenaissanceRe Price Performance

Shares of RNR traded up $4.0680 during trading hours on Wednesday, reaching $247.7080. The stock had a trading volume of 288,659 shares, compared to its average volume of 482,531. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00. The stock has a market capitalization of $11.66 billion, a PE ratio of 6.33, a PEG ratio of 2.35 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company's 50-day moving average is $241.26 and its two-hundred day moving average is $240.18.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating analysts' consensus estimates of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the company earned $12.41 EPS. RenaissanceRe's revenue was down 2.4% compared to the same quarter last year. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 15th. RenaissanceRe's dividend payout ratio is presently 4.09%.

RenaissanceRe Profile

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.