Nepsis Inc. Has $19.29 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Nepsis Inc. lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 37.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,389 shares of the insurance provider's stock after selling 48,594 shares during the quarter. RenaissanceRe accounts for approximately 4.8% of Nepsis Inc.'s portfolio, making the stock its 8th largest position. Nepsis Inc. owned about 0.16% of RenaissanceRe worth $19,293,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in shares of RenaissanceRe by 6,401.7% in the first quarter. SG Americas Securities LLC now owns 39,400 shares of the insurance provider's stock worth $9,456,000 after purchasing an additional 38,794 shares during the last quarter. GAMMA Investing LLC grew its holdings in RenaissanceRe by 39.9% during the first quarter. GAMMA Investing LLC now owns 1,650 shares of the insurance provider's stock worth $396,000 after buying an additional 471 shares in the last quarter. CHICAGO TRUST Co NA raised its position in RenaissanceRe by 15.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 7,355 shares of the insurance provider's stock valued at $1,765,000 after buying an additional 993 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in RenaissanceRe during the 1st quarter valued at $271,000. Finally, UMB Bank n.a. lifted its stake in RenaissanceRe by 165.1% during the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock valued at $111,000 after acquiring an additional 289 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Performance

NYSE:RNR traded down $2.14 during trading hours on Wednesday, reaching $241.16. The stock had a trading volume of 285,728 shares, compared to its average volume of 437,597. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a 50 day simple moving average of $241.44 and a 200 day simple moving average of $246.60. The stock has a market cap of $11.73 billion, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.31.

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

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley set a $285.00 target price on shares of RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. Jefferies Financial Group cut their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $283.60.

Insider Activity at RenaissanceRe

In other 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 sale, the chief accounting officer now directly owns 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 can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

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.