ProShare Advisors LLC Has $38.42 Million Position in RenaissanceRe Holdings Ltd. $RNR

ProShare Advisors LLC reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,644 shares of the insurance provider’s stock after selling 10,254 shares during the quarter. ProShare Advisors LLC owned 0.30% of RenaissanceRe worth $38,419,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP raised its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its stake in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the period. Root Financial Partners LLC acquired a new stake in RenaissanceRe during the 3rd quarter valued at $36,000. SBI Securities Co. Ltd. raised its stake in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Finally, Allworth Financial LP raised its stake in RenaissanceRe by 157.0% during the 3rd quarter. Allworth Financial LP now owns 203 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 124 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RNR has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Friday, March 27th. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $306.00 to $340.00 in a research note on Thursday, April 9th. Mizuho set a $325.00 target price on shares of RenaissanceRe in a research note on Monday, May 4th. UBS Group boosted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Bank of America cut their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe Trading Up 1.3%

RenaissanceRe stock opened at $302.18 on Wednesday. The company’s fifty day simple moving average is $300.68 and its 200-day simple moving average is $286.13. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The stock has a market cap of $12.88 billion, a P/E ratio of 5.04, a P/E/G ratio of 0.80 and a beta of 0.22.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business had revenue of $2.19 billion for the quarter. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.37 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is currently 2.73%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.