Formuepleje A S Has $4.22 Million Position in RenaissanceRe Holdings Ltd. $RNR

Formuepleje A S lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 56.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,320 shares of the insurance provider’s stock after selling 17,397 shares during the period. Formuepleje A S’s holdings in RenaissanceRe were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Candriam S.C.A. acquired a new position in RenaissanceRe during the first quarter worth about $6,202,000. Delta Global Management LP acquired a new stake in shares of RenaissanceRe in the 1st quarter valued at approximately $1,754,000. Quantedge Capital Pte Ltd boosted its stake in shares of RenaissanceRe by 422.7% in the 1st quarter. Quantedge Capital Pte Ltd now owns 11,500 shares of the insurance provider’s stock valued at $3,418,000 after purchasing an additional 9,300 shares in the last quarter. Lightrock Netherlands B.V. grew its holdings in shares of RenaissanceRe by 15.8% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock valued at $350,263,000 after purchasing an additional 160,915 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in RenaissanceRe by 27.9% during the 4th quarter. Handelsbanken Fonder AB now owns 15,600 shares of the insurance provider’s stock worth $4,386,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the transaction, the executive vice president directly owned 72,907 shares of the company’s stock, valued at $24,280,218.21. The trade was a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $329.98 on Monday. The business’s 50 day simple moving average is $323.06 and its 200 day simple moving average is $307.49. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $340.24. The stock has a market capitalization of $13.71 billion, a PE ratio of 5.66, a PEG ratio of 1.20 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. The business had revenue of $2.77 billion during the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is 2.81%.

Analyst Upgrades and Downgrades

RNR has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. TD Cowen boosted their target price on shares of RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Bank of America upped their price target on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Wolfe Research set a $315.00 price target on RenaissanceRe in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $336.33.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.