RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 34.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,101 shares of the insurance provider’s stock after selling 571 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in RenaissanceRe were worth $259,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in RenaissanceRe during the first quarter worth $26,000. Rise Advisors LLC bought a new stake in RenaissanceRe in the first quarter valued at $31,000. Mather Group LLC. bought a new stake in RenaissanceRe in the first quarter valued at $34,000. GAMMA Investing LLC bought a new stake in RenaissanceRe in the fourth quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in RenaissanceRe in the fourth quarter valued at $38,000. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Up 0.0 %

RNR traded up $0.03 during trading on Wednesday, reaching $212.96. The company had a trading volume of 13,759 shares, compared to its average volume of 336,970. The firm’s 50-day simple moving average is $224.35 and its 200 day simple moving average is $220.77. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 4.70, a PEG ratio of 1.47 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the business posted $8.16 EPS. RenaissanceRe’s revenue was up 41.3% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 37.17 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.73%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RNR shares. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI lifted their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $249.00.

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.