Mainstay Capital Management LLC ADV lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098 shares of the insurance provider’s stock after selling 401 shares during the period. Mainstay Capital Management LLC ADV’s holdings in RenaissanceRe were worth $215,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in RNR. Amundi Pioneer Asset Management Inc. grew its position in shares of RenaissanceRe by 72.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 61,022 shares of the insurance provider’s stock valued at $8,756,000 after acquiring an additional 25,725 shares during the period. MML Investors Services LLC bought a new position in shares of RenaissanceRe in the 2nd quarter valued at about $204,000. Asset Management One Co. Ltd. boosted its holdings in shares of RenaissanceRe by 15.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,320 shares of the insurance provider’s stock worth $4,329,000 after buying an additional 3,196 shares during the period. Vanguard Group Inc. boosted its holdings in shares of RenaissanceRe by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,581,520 shares of the insurance provider’s stock worth $815,556,000 after buying an additional 141,400 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in shares of RenaissanceRe during the 2nd quarter worth about $4,006,000. 92.89% of the stock is owned by institutional investors.
Shares of RNR stock opened at $193.22 on Tuesday. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.36 and a beta of 0.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50-day simple moving average of $193.17 and a 200 day simple moving average of $188.27. RenaissanceRe Holdings Ltd. has a 52 week low of $132.22 and a 52 week high of $201.35.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 29th. The insurance provider reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.72). The business had revenue of $704.13 million during the quarter, compared to the consensus estimate of $574.66 million. RenaissanceRe had a net margin of 17.32% and a return on equity of 8.23%. The business’s revenue for the quarter was up 55.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 9.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, December 12th. RenaissanceRe’s dividend payout ratio is currently 14.83%.
Several analysts recently commented on the stock. Citigroup assumed coverage on shares of RenaissanceRe in a report on Tuesday. They set a “neutral” rating and a $192.00 target price for the company. Wells Fargo & Co raised shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and set a $220.00 target price for the company in a report on Monday, December 16th. Zacks Investment Research raised shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 target price for the company in a report on Wednesday, October 16th. Finally, Barclays reaffirmed a “sell” rating and set a $190.00 target price on shares of RenaissanceRe in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $190.25.
In other RenaissanceRe news, SVP Jonathan Paradine sold 10,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $187.00, for a total value of $1,870,000.00. Following the completion of the sale, the senior vice president now owns 50,108 shares of the company’s stock, valued at approximately $9,370,196. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
RenaissanceRe Company Profile
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 earthquakes, hurricanes, 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, and binding facilities and regional U.S.
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