RenaissanceRe Holdings Ltd. (RNR) Shares Bought by Nepsis Capital Management Inc.
Nepsis Capital Management Inc. boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,919 shares of the insurance provider’s stock after acquiring an additional 1,342 shares during the quarter. RenaissanceRe accounts for approximately 3.8% of Nepsis Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Nepsis Capital Management Inc.’s holdings in RenaissanceRe were worth $7,525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of RenaissanceRe by 53,631.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,290,632 shares of the insurance provider’s stock worth $179,463,000 after buying an additional 1,288,230 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of RenaissanceRe by 85.1% during the 2nd quarter. Renaissance Technologies LLC now owns 692,497 shares of the insurance provider’s stock worth $96,292,000 after buying an additional 318,282 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of RenaissanceRe by 41.3% during the 3rd quarter. APG Asset Management N.V. now owns 970,002 shares of the insurance provider’s stock worth $131,086,000 after buying an additional 283,300 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of RenaissanceRe by 99.0% during the 3rd quarter. Bessemer Group Inc. now owns 336,900 shares of the insurance provider’s stock worth $45,529,000 after buying an additional 167,621 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of RenaissanceRe by 1,127.9% during the 3rd quarter. Shell Asset Management Co. now owns 148,154 shares of the insurance provider’s stock worth $14,814,000 after buying an additional 136,088 shares in the last quarter. 93.38% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Sean G. Brosnan sold 1,391 shares of RenaissanceRe stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $135.73, for a total value of $188,800.43. Following the sale, the senior vice president now owns 8,405 shares of the company’s stock, valued at approximately $1,140,810.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Odonnell sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $131.65, for a total transaction of $658,250.00. Following the completion of the transaction, the chief executive officer now owns 190,707 shares of the company’s stock, valued at $25,106,576.55. The disclosure for this sale can be found here. Insiders sold a total of 11,391 shares of company stock worth $1,524,950 in the last ninety days. 1.80% of the stock is currently owned by insiders.
RenaissanceRe Holdings Ltd. (NYSE RNR) traded up $1.42 during trading hours on Wednesday, hitting $121.93. 571,100 shares of the company were exchanged, compared to its average volume of 457,660. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $4,823.91, a PE ratio of -26.68, a PEG ratio of 1.31 and a beta of 0.67. RenaissanceRe Holdings Ltd. has a 52 week low of $116.50 and a 52 week high of $152.00.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, October 31st. The insurance provider reported ($13.81) EPS for the quarter, missing analysts’ consensus estimates of ($12.25) by ($1.56). The company had revenue of $483.22 million during the quarter, compared to the consensus estimate of $300.46 million. RenaissanceRe had a negative return on equity of 5.82% and a negative net margin of 7.60%. The company’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS. sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post -8.83 EPS for the current year.
RenaissanceRe declared that its board has authorized a share repurchase plan on Friday, November 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.32 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.05%. RenaissanceRe’s dividend payout ratio (DPR) is presently -28.01%.
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RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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