Mutual of America Capital Management LLC Has $6.08 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Key Points

• Mutual of America Capital Management LLC reduced its stake in RenaissanceRe Holdings Ltd. by 7.6%, selling 2,087 shares, and now holds approximately $6.08 million worth of the company.
• RenaissanceRe's recent quarterly earnings were reported at $12.29 per share, exceeding analysts' expectations of $10.28, although revenue fell short at $2.77 billion against an estimate of $2.96 billion.
• Several analysts have adjusted their price targets for RenaissanceRe, with a consensus target price of $287.50 and a majority rating the stock as a "Hold."

Mutual of America Capital Management LLC trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,350 shares of the insurance provider's stock after selling 2,087 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of RenaissanceRe worth $6,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $27,000. Tsfg LLC bought a new stake in shares of RenaissanceRe in the 1st quarter valued at approximately $40,000. UMB Bank n.a. grew its stake in shares of RenaissanceRe by 165.1% in the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock valued at $111,000 after purchasing an additional 289 shares during the period. State of Wyoming bought a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $175,000. Finally, Rossby Financial LCC bought a new stake in shares of RenaissanceRe in the 1st quarter valued at approximately $187,000. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Performance

NYSE:RNR traded up $0.88 during mid-day trading on Friday, hitting $240.39. The stock had a trading volume of 266,199 shares, compared to its average volume of 517,462. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $300.00. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 2.41 and a beta of 0.29. The company's 50 day simple moving average is $242.05 and its 200 day simple moving average is $240.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.28 by $2.01. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. RenaissanceRe's revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $12.41 EPS. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 15th. RenaissanceRe's payout ratio is presently 4.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RNR shares. Barclays increased their price target on RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. UBS Group increased their price target on RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wells Fargo & Company restated an "equal weight" rating and set a $269.00 price target (up from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Morgan Stanley decreased their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $287.50.

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.