RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by Nepsis Inc.

Nepsis Inc. lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,983 shares of the insurance provider’s stock after acquiring an additional 31,915 shares during the period. RenaissanceRe accounts for approximately 4.6% of Nepsis Inc.’s holdings, making the stock its 5th biggest position. Nepsis Inc.’s holdings in RenaissanceRe were worth $32,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RNR. Algert Global LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter worth approximately $1,186,000. Rockefeller Capital Management L.P. bought a new stake in shares of RenaissanceRe in the 3rd quarter worth approximately $3,684,000. Fisher Asset Management LLC raised its holdings in shares of RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after purchasing an additional 23,956 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

RNR stock opened at $256.14 on Friday. 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 company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 3.69, a P/E/G ratio of 1.90 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a 12 month low of $205.62 and a 12 month high of $300.00. The firm has a 50 day moving average of $261.80 and a two-hundred day moving average of $256.30.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.33 earnings per share. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RNR shares. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, Bank of America boosted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $284.00.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

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.