RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,700 shares of the insurance provider's stock after selling 1,900 shares during the period. Swiss National Bank owned 0.21% of RenaissanceRe worth $24,168,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. boosted its stake in shares of RenaissanceRe by 7.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 82,913 shares of the insurance provider's stock worth $19,899,000 after purchasing an additional 5,492 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in shares of RenaissanceRe by 35.6% in the first quarter. New Age Alpha Advisors LLC now owns 10,533 shares of the insurance provider's stock worth $2,528,000 after acquiring an additional 2,765 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of RenaissanceRe in the first quarter worth approximately $622,000. XTX Topco Ltd boosted its position in shares of RenaissanceRe by 26.2% in the first quarter. XTX Topco Ltd now owns 12,252 shares of the insurance provider's stock worth $2,940,000 after acquiring an additional 2,542 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of RenaissanceRe by 34.3% in the first quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider's stock worth $1,448,000 after acquiring an additional 1,541 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an "equal weight" rating and set a $269.00 price objective (up previously from $267.00) on shares of RenaissanceRe in a research note on Thursday, July 10th. Citigroup started coverage on shares of RenaissanceRe in a research note on Wednesday. They issued a "buy" rating and a $288.00 price target for the company. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Barclays lifted their price target on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their price target on shares of RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $282.09.

RenaissanceRe Stock Performance

Shares of RNR traded down $3.19 during midday trading on Friday, hitting $239.09. 376,291 shares of the stock traded hands, compared to its average volume of 470,376. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $300.00. The firm has a market capitalization of $11.25 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 2.34 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The business's 50 day moving average price is $241.35 and its two-hundred day moving average price is $240.09.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (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 company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company posted $12.41 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

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.