Mutual of America Capital Management LLC Sells 1,156 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Mutual of America Capital Management LLC reduced its stake in RenaissanceRe Holdings Ltd. by 4.6%, selling 1,156 shares during the 2nd quarter and now holds 24,194 shares valued at approximately $5.88 million.
• RenaissanceRe reported $12.29 earnings per share for the last quarter, which beat analyst estimates, despite a 2.4% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.40 per share, translating to an annualized dividend of $1.60 and a yield of 0.7%.

Mutual of America Capital Management LLC lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,194 shares of the insurance provider's stock after selling 1,156 shares during the quarter. Mutual of America Capital Management LLC's holdings in RenaissanceRe were worth $5,877,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of RenaissanceRe by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after acquiring an additional 676,125 shares in the last quarter. Nuveen LLC purchased a new stake in shares of RenaissanceRe in the 1st quarter valued at about $54,087,000. Cooke & Bieler LP raised its holdings in shares of RenaissanceRe by 18.0% in the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after acquiring an additional 190,139 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of RenaissanceRe by 49.3% in the 1st quarter. Great Lakes Advisors LLC now owns 326,480 shares of the insurance provider's stock valued at $78,355,000 after acquiring an additional 107,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RenaissanceRe by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider's stock valued at $183,175,000 after acquiring an additional 101,060 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $245.45 on Wednesday. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 6.27, a P/E/G ratio of 2.09 and a beta of 0.27. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $300.00. The stock's 50-day moving average is $248.36 and its 200 day moving average is $243.77.

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

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe's payout ratio is 4.09%.

Analyst Ratings Changes

Several research firms have weighed in on RNR. Morgan Stanley lowered their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price target on RenaissanceRe from $269.00 to $278.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of RenaissanceRe in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $283.08.

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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