Robeco Institutional Asset Management B.V. Sells 5,777 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Robeco Institutional Asset Management B.V. decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 31.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,857 shares of the insurance provider’s stock after selling 5,777 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in RenaissanceRe were worth $3,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in RenaissanceRe by 17.9% during the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider’s stock worth $203,339,000 after acquiring an additional 124,125 shares during the period. Miracle Mile Advisors LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $271,000. Trexquant Investment LP bought a new stake in RenaissanceRe during the 4th quarter worth approximately $561,000. Deutsche Bank AG raised its stake in RenaissanceRe by 4.2% during the 4th quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider’s stock worth $2,666,000 after acquiring an additional 431 shares during the period. Finally, Franklin Resources Inc. bought a new stake in RenaissanceRe during the 4th quarter worth approximately $1,086,000. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RNR. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective on the stock in a research report on Tuesday, April 8th. Morgan Stanley set a $285.00 price objective on shares of RenaissanceRe and gave the company an “overweight” rating in a research report on Monday, May 19th. Barclays reduced their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $283.60.

Insider Buying and Selling

In other news, CAO James Christopher Fraser sold 332 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the sale, the chief accounting officer directly owned 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

RenaissanceRe Stock Up 0.5%

NYSE RNR opened at $244.19 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $243.84 and a two-hundred day moving average of $242.90. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 2.91 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.18 earnings per share. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, June 13th. RenaissanceRe’s payout ratio is 5.10%.

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.