Swiss National Bank Reduces Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Swiss National Bank lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,300 shares of the insurance provider’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in RenaissanceRe were worth $28,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of RenaissanceRe during the 1st quarter valued at about $46,000. Wedge Capital Management L L P NC bought a new stake in shares of RenaissanceRe in the second quarter valued at about $2,887,000. Intech Investment Management LLC lifted its position in shares of RenaissanceRe by 52.9% in the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after purchasing an additional 2,490 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of RenaissanceRe by 741.7% in the first quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 979 shares during the last quarter. Finally, Atria Investments Inc bought a new position in RenaissanceRe during the first quarter worth about $1,168,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.1 %

Shares of NYSE:RNR opened at $264.30 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $300.00. The business’s 50 day moving average is $268.38 and its 200 day moving average is $244.22. The stock has a market cap of $13.73 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $8.33 EPS. RenaissanceRe’s revenue was up 52.1% on a year-over-year basis. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Analyst Ratings Changes

Several research firms recently weighed in on RNR. Wells Fargo & Company upped their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.00.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the transaction, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

RenaissanceRe Profile

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.