Ngam Advisors L.P. cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,248 shares of the company’s stock after selling 9,423 shares during the period. Ngam Advisors L.P. owned about 0.19% of RenaissanceRe Holdings worth $9,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Seven Eight Capital LLC purchased a new position in shares of RenaissanceRe Holdings during the first quarter worth about $192,000. BNP Paribas Arbitrage SA raised its position in shares of RenaissanceRe Holdings by 212.8% in the second quarter. BNP Paribas Arbitrage SA now owns 22,290 shares of the company’s stock worth $2,618,000 after buying an additional 15,165 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new position in shares of RenaissanceRe Holdings during the second quarter worth about $200,000. Nepsis Capital Management Inc. raised its position in shares of RenaissanceRe Holdings by 2.2% in the second quarter. Nepsis Capital Management Inc. now owns 51,004 shares of the company’s stock worth $5,990,000 after buying an additional 1,111 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of RenaissanceRe Holdings by 71.1% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 163,458 shares of the company’s stock worth $19,197,000 after buying an additional 67,908 shares during the period. Institutional investors own 92.35% of the company’s stock.

Institutional Ownership by Quarter for RenaissanceRe Holdings (NYSE:RNR)

Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) traded down 0.07% during mid-day trading on Tuesday, hitting $131.23. 142,251 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $126.07 and a 200-day moving average price of $119.20. RenaissanceRe Holdings Ltd. has a 1-year low of $107.27 and a 1-year high of $132.43. The stock has a market cap of $5.40 billion, a P/E ratio of 11.15 and a beta of 0.46.

RenaissanceRe Holdings (NYSE:RNR) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.30. The company had revenue of $442.47 million for the quarter, compared to analysts’ expectations of $488.38 million. RenaissanceRe Holdings had a net margin of 30.02% and a return on equity of 8.54%. The business’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post $6.47 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.31 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.95%. RenaissanceRe Holdings’s dividend payout ratio is currently 10.49%.

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Several research analysts have weighed in on RNR shares. Zacks Investment Research upgraded shares of RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research report on Friday, October 7th. Goldman Sachs Group Inc. upgraded shares of RenaissanceRe Holdings from a “sell” rating to a “neutral” rating and upped their target price for the stock from $101.00 to $125.00 in a research report on Tuesday, November 15th. Deutsche Bank AG lowered shares of RenaissanceRe Holdings from a “buy” rating to a “hold” rating and set a $131.78 target price on the stock. in a research report on Monday, November 21st. Finally, Citigroup Inc. started coverage on shares of RenaissanceRe Holdings in a research report on Tuesday, November 22nd. They set a “neutral” rating and a $143.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, RenaissanceRe Holdings presently has an average rating of “Hold” and an average price target of $126.72.

In other news, CEO Kevin Odonnell sold 3,000 shares of RenaissanceRe Holdings stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $120.28, for a total value of $360,840.00. Following the transaction, the chief executive officer now owns 270,944 shares of the company’s stock, valued at approximately $32,589,144.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aditya Dutt sold 599 shares of RenaissanceRe Holdings stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $125.00, for a total transaction of $74,875.00. Following the completion of the transaction, the insider now directly owns 51,049 shares in the company, valued at approximately $6,381,125. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

About RenaissanceRe Holdings

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.

5 Day Chart for NYSE:RNR

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