RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Nepsis Inc.

Nepsis Inc. cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 37.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,389 shares of the insurance provider's stock after selling 48,594 shares during the quarter. RenaissanceRe accounts for 4.8% of Nepsis Inc.'s portfolio, making the stock its 8th largest position. Nepsis Inc. owned 0.16% of RenaissanceRe worth $19,293,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Capital World Investors increased its holdings in RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after buying an additional 233,708 shares during the last quarter. Boston Partners lifted its stake in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after purchasing an additional 446,781 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after purchasing an additional 182,530 shares during the period. Polar Capital Holdings Plc increased its stake in RenaissanceRe by 5.7% during the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock valued at $323,003,000 after purchasing an additional 69,884 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of RenaissanceRe by 24.3% during the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock worth $284,907,000 after purchasing an additional 223,991 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. Finally, Bank of America reduced their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $283.60.

RenaissanceRe Stock Down 1.2%

NYSE:RNR traded down $2.93 during trading hours on Friday, hitting $244.03. 239,895 shares of the stock traded hands, compared to its average volume of 437,497. The firm has a 50 day moving average price of $242.35 and a 200 day moving average price of $246.11. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 2.09 and a beta of 0.31. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company posted $12.18 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio is currently 5.10%.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The shares were 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 now owns 27,154 shares in the company, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Company 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.