Impax Asset Management Group plc Sells 782,860 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Impax Asset Management Group plc reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 41.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,306 shares of the insurance provider's stock after selling 782,860 shares during the quarter. RenaissanceRe accounts for about 1.6% of Impax Asset Management Group plc's investment portfolio, making the stock its 16th largest holding. Impax Asset Management Group plc owned about 2.24% of RenaissanceRe worth $262,538,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of RenaissanceRe during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp raised its stake in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after buying an additional 127 shares during the period. Smartleaf Asset Management LLC raised its stake in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after buying an additional 65 shares during the period. Finally, Tsfg LLC bought a new position in shares of RenaissanceRe during the first quarter worth approximately $40,000. 99.97% of the stock is currently owned by institutional investors.

Insider Transactions at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer owned 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RNR. Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the company an "overweight" rating in a report on Monday, May 19th. Jefferies Financial Group lowered their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $283.60.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $240.90 on Friday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 2.89 and a beta of 0.30. The business has a 50-day simple moving average of $244.14 and a 200 day simple moving average of $242.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $12.18 earnings per share. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

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.

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