RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Lowered by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,768 shares of the insurance provider’s stock after selling 400 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in RenaissanceRe were worth $3,287,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI lifted its stake in RenaissanceRe by 3,482.3% in the 3rd quarter. National Bank of Canada FI now owns 6,484 shares of the insurance provider’s stock worth $1,281,000 after acquiring an additional 6,303 shares in the last quarter. CWM LLC lifted its stake in RenaissanceRe by 200.0% in the 3rd quarter. CWM LLC now owns 636 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 424 shares in the last quarter. Global Retirement Partners LLC lifted its stake in RenaissanceRe by 519.4% in the 3rd quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 161 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in RenaissanceRe in the 3rd quarter worth about $730,000. Finally, Benedict Financial Advisors Inc. lifted its stake in RenaissanceRe by 1.0% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 12,084 shares of the insurance provider’s stock worth $2,392,000 after acquiring an additional 118 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the sale, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the sale, the chief financial officer now directly owns 70,424 shares in the company, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. Insiders have sold 4,130 shares of company stock valued at $958,429 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RNR shares. TD Cowen started coverage on RenaissanceRe in a research note on Wednesday, January 10th. They issued a “market perform” rating for the company. BMO Capital Markets raised their price target on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. UBS Group raised their price target on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI raised their price target on RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $219.75 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 4.29, a P/E/G ratio of 3.01 and a beta of 0.30. The business’s 50-day simple moving average is $227.24 and its 200-day simple moving average is $216.06. RenaissanceRe Holdings Ltd. has a 52 week low of $174.22 and a 52 week high of $239.42.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.33 EPS. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio (DPR) is 3.05%.

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.