Principal Financial Group Inc. reduced its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,447 shares of the insurance provider's stock after selling 5,587 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of RenaissanceRe worth $27,227,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in RNR. Capital World Investors lifted its position in shares of RenaissanceRe by 8.8% during the 4th quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after acquiring an additional 233,708 shares during the period. Boston Partners lifted its position in shares of RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after acquiring an additional 446,781 shares during the period. Polar Capital Holdings Plc lifted its position in shares of RenaissanceRe by 5.7% during the 4th quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock valued at $323,003,000 after acquiring an additional 69,884 shares during the period. Geode Capital Management LLC lifted its position in shares of RenaissanceRe by 24.3% during the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after acquiring an additional 223,991 shares during the period. Finally, FIL Ltd lifted its position in shares of RenaissanceRe by 5.1% during the 4th quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after acquiring an additional 49,804 shares during the period. 99.97% of the stock is currently owned by institutional investors.
RenaissanceRe Price Performance
RNR traded down $1.92 on Thursday, reaching $238.33. The stock had a trading volume of 398,902 shares, compared to its average volume of 445,811. RenaissanceRe Holdings Ltd. has a fifty-two week low of $210.51 and a fifty-two week high of $300.00. The firm has a 50-day moving average of $244.11 and a 200-day moving average of $242.40. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 2.89 and a beta of 0.30.
RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $12.18 EPS. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.
RenaissanceRe Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.40 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe's payout ratio is 5.10%.
Insider Buying and Selling at RenaissanceRe
In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer owned 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.
Analyst Ratings Changes
RNR has been the subject of a number of recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $268.00 price target (down previously from $282.00) on shares of RenaissanceRe in a report on Wednesday. Barclays raised RenaissanceRe from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $231.00 to $256.00 in a report on Monday. Finally, Bank of America lowered their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $288.56.
Check Out Our Latest Report on RenaissanceRe
RenaissanceRe Company Profile
(
Free Report)
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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