RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Cut by Egerton Capital UK LLP

Egerton Capital UK LLP lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,294,662 shares of the insurance provider’s stock after selling 599,750 shares during the period. RenaissanceRe comprises about 3.7% of Egerton Capital UK LLP’s investment portfolio, making the stock its 13th biggest holding. Egerton Capital UK LLP owned about 2.49% of RenaissanceRe worth $322,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in RenaissanceRe in the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp increased its stake in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares during the period. Smartleaf Asset Management LLC raised its holdings in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in RenaissanceRe during the third quarter worth approximately $45,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Down 0.8 %

NYSE RNR opened at $239.53 on Wednesday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 2.09 and a beta of 0.38. The firm’s 50 day moving average price is $242.98 and its two-hundred day moving average price is $257.97.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s payout ratio is presently 4.57%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RNR. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company dropped their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley dropped their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods dropped their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average price target of $279.90.

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.