RenaissanceRe Holdings Ltd. $RNR Shares Sold by Capital World Investors

Capital World Investors lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,547,152 shares of the insurance provider’s stock after selling 102,366 shares during the period. Capital World Investors owned approximately 0.06% of RenaissanceRe worth $716,157,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RNR. Quarry LP increased its holdings in shares of RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Kingdom Financial Group LLC. bought a new position in shares of RenaissanceRe during the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. boosted its position in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of RenaissanceRe by 134.7% in the fourth quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock worth $49,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RNR shares. Bank of America decreased their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, May 26th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. Wells Fargo & Company raised their price target on shares of RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Evercore set a $309.00 price target on shares of RenaissanceRe in a report on Thursday, April 9th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe Stock Performance

RNR stock opened at $288.94 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $12.32 billion, a P/E ratio of 4.82, a P/E/G ratio of 0.79 and a beta of 0.19. The firm has a 50 day simple moving average of $299.29 and a 200 day simple moving average of $288.43. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $318.20.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The business had revenue of $2.19 billion during the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

About RenaissanceRe

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.