Natixis Advisors LLC Sells 1,999 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Key Points

• Natixis Advisors LLC reduced its holdings in RenaissanceRe by 13.6%, selling 1,999 shares, leaving them with 12,747 shares valued at approximately $3,059,000.
• RenaissanceRe reported a quarterly earnings per share (EPS) of $12.29, exceeding expectations, but their revenue fell by 2.4% year-over-year to $2.77 billion.
• The company announced a quarterly dividend of $0.40 per share, with the most recent payment scheduled for September 30th, representing an annualized yield of 0.7%.

Natixis Advisors LLC lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,747 shares of the insurance provider's stock after selling 1,999 shares during the quarter. Natixis Advisors LLC's holdings in RenaissanceRe were worth $3,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP increased its holdings in shares of RenaissanceRe by 462.8% during the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock worth $215,035,000 after purchasing an additional 710,698 shares during the period. GAMMA Investing LLC grew its position in RenaissanceRe by 33,487.8% during the first quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock worth $95,040,000 after buying an additional 394,821 shares in the last quarter. Capital World Investors grew its position in RenaissanceRe by 8.8% during the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock worth $717,278,000 after buying an additional 233,708 shares in the last quarter. Cooke & Bieler LP increased its stake in RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock worth $299,458,000 after acquiring an additional 190,139 shares during the period. Finally, Bank of America Corp DE raised its holdings in RenaissanceRe by 17.9% in the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock valued at $203,339,000 after acquiring an additional 124,125 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.4%

RNR stock opened at $241.35 on Thursday. The firm has a 50-day moving average price of $242.35 and a 200-day moving average price of $240.87. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.36 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $12.41 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on RNR shares. UBS Group upped their target price on RenaissanceRe from $250.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Barclays raised their target price on shares of RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.

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