Yousif Capital Management LLC Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yousif Capital Management LLC decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,238 shares of the insurance provider's stock after selling 1,023 shares during the quarter. Yousif Capital Management LLC's holdings in RenaissanceRe were worth $4,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe during the 4th quarter worth $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe during the 4th quarter worth $29,000. Jones Financial Companies Lllp raised its position in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC raised its position in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the last quarter. Finally, Huntington National Bank raised its position in RenaissanceRe by 179.3% during the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Bank of America cut their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $285.00 price target on shares of RenaissanceRe and gave the stock an "overweight" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $283.60.

RenaissanceRe Price Performance

NYSE RNR traded up $3.09 during trading hours on Monday, reaching $247.48. The company's stock had a trading volume of 365,900 shares, compared to its average volume of 437,943. The stock has a market cap of $12.04 billion, a PE ratio of 7.07, a PEG ratio of 2.09 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company's 50-day moving average is $242.81 and its two-hundred day moving average is $245.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued 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). The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. RenaissanceRe's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $12.18 earnings per share. Analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

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 paid a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe's payout ratio is 5.10%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the company's 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 transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

About RenaissanceRe

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.