RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.9% in the third quarter, HoldingsChannel.com reports. The firm owned 28,188 shares of the insurance provider’s stock after selling 2,088 shares during the period. Mutual of America Capital Management LLC’s holdings in RenaissanceRe were worth $7,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RNR. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after purchasing an additional 415,366 shares during the period. Dimensional Fund Advisors LP boosted its holdings in RenaissanceRe by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after purchasing an additional 109,851 shares during the period. Cooke & Bieler LP boosted its holdings in RenaissanceRe by 9.2% in the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock worth $229,679,000 after purchasing an additional 86,562 shares during the period. Assetmark Inc. boosted its holdings in RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after purchasing an additional 43,384 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in RenaissanceRe by 480.2% in the second quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider’s stock worth $9,326,000 after purchasing an additional 34,534 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $261.51 on Tuesday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The firm’s 50-day simple moving average is $268.02 and its 200 day simple moving average is $243.76. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.58 billion, a P/E ratio of 3.77, a P/E/G ratio of 1.32 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the business earned $8.33 earnings per share. The company’s revenue was up 52.1% on a year-over-year basis. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

RNR has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI raised their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.00.

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.