Goldman Sachs Group Inc. lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,289 shares of the insurance provider’s stock after selling 46,240 shares during the quarter. Goldman Sachs Group Inc. owned about 0.55% of RenaissanceRe worth $47,298,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vigilant Capital Management LLC acquired a new position in RenaissanceRe in the fourth quarter valued at about $39,000. Sowell Financial Services LLC lifted its stake in RenaissanceRe by 193.1% in the fourth quarter. Sowell Financial Services LLC now owns 299 shares of the insurance provider’s stock valued at $59,000 after buying an additional 197 shares during the period. Wealthfront Advisers LLC acquired a new position in RenaissanceRe in the fourth quarter valued at about $203,000. National Asset Management Inc. acquired a new position in RenaissanceRe in the fourth quarter valued at about $239,000. Finally, Machina Capital S.A.S. acquired a new position in RenaissanceRe in the fourth quarter valued at about $281,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
NYSE RNR opened at $135.88 on Thursday. The firm has a market cap of $6.04 billion, a P/E ratio of 8.30, a P/E/G ratio of 1.00 and a beta of 0.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s 50-day moving average is $173.60 and its 200-day moving average is $185.94. RenaissanceRe Holdings Ltd. has a one year low of $113.27 and a one year high of $202.68.
RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.41). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $517.15 million. RenaissanceRe had a return on equity of 8.46% and a net margin of 17.82%. During the same period in the prior year, the business earned $0.02 EPS. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 15.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.03%. RenaissanceRe’s dividend payout ratio (DPR) is presently 15.33%.
Several equities analysts have weighed in on RNR shares. Barclays reissued a “sell” rating and issued a $190.00 target price on shares of RenaissanceRe in a research note on Tuesday, January 7th. Morgan Stanley raised their price target on RenaissanceRe from $188.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Citigroup assumed coverage on RenaissanceRe in a research report on Tuesday, January 21st. They set a “neutral” rating and a $192.00 price target on the stock. Buckingham Research raised their price target on RenaissanceRe from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $223.00 price target on shares of RenaissanceRe in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $192.67.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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