Bank of Montreal Can lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE: RNR – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,511 shares of the insurance provider’s stock after selling 444 shares during the period. Bank of Montreal Can’s holdings in RenaissanceRe were worth $ 2,488,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Polar Capital Holdings Plc lifted its stake in RenaissanceRe by 3.9% during the third quarter. Polar Capital Holdings Plc now owns 899,504 shares of the insurance provider’s stock worth $ 125,391,000 after purchasing an additional 34,051 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RenaissanceRe by 5.7% in the 4th quarter. JPMorgan Chase & Co. now owns 822,053 shares of the insurance provider’s stock valued at $ 139,197,000 after acquiring an additional 44,007 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 664,168 shares of the insurance provider’s stock valued at $ 112,464,000 after acquiring an additional 9,088 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of RenaissanceRe by 10.9% in the 4th quarter. Great Lakes Advisors LLC now owns 463,807 shares of the insurance provider’s stock valued at $ 78,536,000 after acquiring an additional 45,697 shares during the last quarter. Finally, ARGA Investment Management LP lifted its stake in shares of RenaissanceRe by 50.6% in the 4th quarter. ARGA Investment Management LP now owns 437,060 shares of the insurance provider’s stock valued at $ 74,007,000 after acquiring an additional 146,928 shares during the last quarter. 98.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE: RNR opened at $ 152.50 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $ 134.70 and a 1 year high of $ 174.54. The company has a market cap of $ 6.74 billion, a PE ratio of -31.44 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50-day moving average is $ 151.45 and its 200 day moving average is $ 156.26.
RenaissanceRe (NYSE: RNR – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported $ 3.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 4.63 by ($ 1.13). RenaissanceRe had a negative net margin of 2.68% and a positive return on equity of 4.25%. The business had revenue of $ 2.17 billion for the quarter, compared to analysts’ expectations of $ 2 billion. During the same quarter in the prior year, the firm earned $ 0.09 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Analysts expect that RenaissanceRe Holdings Ltd. will post 15.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $ 0.37 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 1.48 dividend on an annualized basis and a dividend yield of 0.97%. RenaissanceRe’s dividend payout ratio (DPR) is -30.52%.
A number of equities research analysts have recently weighed in on RNR shares. StockNews.com started coverage on RenaissanceRe in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet lowered RenaissanceRe from a “b-” rating to a “c” rating in a research note on Thursday, March 10th. Finally, Morgan Stanley reduced their price target on RenaissanceRe from $ 175.00 to $ 162.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $ 175.20.
In other RenaissanceRe news, Director David C. Bushnell sold 600 shares of the company stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $ 148.41, for a total transaction of $ 89,046.00. Following the transaction, the director now owns 19,914 shares in the company, valued at approximately $ 2,955,436.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
RenaissanceRe Profile: (Get Rating)
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man -made catastrophes comprising 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 US
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