RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 89.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107 shares of the insurance provider’s stock after selling 886 shares during the period. Headlands Technologies LLC’s holdings in RenaissanceRe were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in RenaissanceRe by 5.8% during the fourth quarter. Bessemer Group Inc. now owns 1,106 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 61 shares during the period. Fifth Third Bancorp grew its holdings in RenaissanceRe by 1.2% during the first quarter. Fifth Third Bancorp now owns 6,599 shares of the insurance provider’s stock worth $1,584,000 after acquiring an additional 79 shares during the period. QRG Capital Management Inc. grew its holdings in RenaissanceRe by 5.7% during the first quarter. QRG Capital Management Inc. now owns 1,642 shares of the insurance provider’s stock worth $394,000 after acquiring an additional 88 shares during the period. Rehmann Capital Advisory Group grew its holdings in RenaissanceRe by 10.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,027 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 93 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in RenaissanceRe by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,847 shares of the insurance provider’s stock worth $1,643,000 after acquiring an additional 95 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RNR. Wells Fargo & Company reissued an “equal weight” rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a research note on Thursday, July 10th. Morgan Stanley dropped their price target on RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. UBS Group lifted their price target on RenaissanceRe from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $282.09.

RenaissanceRe Trading Up 1.8%

Shares of NYSE RNR opened at $243.78 on Thursday. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00. The firm has a market capitalization of $11.47 billion, a PE ratio of 6.23, a PEG ratio of 2.40 and a beta of 0.29. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $241.51 and a two-hundred day moving average price of $240.35.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.28 by $2.01. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $12.41 EPS. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 15th. RenaissanceRe’s payout ratio is currently 4.09%.

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.