RenaissanceRe Holdings Ltd. (RNR) Holdings Decreased by Earnest Partners LLC
Earnest Partners LLC reduced its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,803 shares of the insurance provider’s stock after selling 8,377 shares during the quarter. Earnest Partners LLC’s holdings in RenaissanceRe were worth $37,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of RenaissanceRe by 18.9% during the fourth quarter. BlackRock Inc. now owns 4,638,743 shares of the insurance provider’s stock worth $582,578,000 after acquiring an additional 736,689 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of RenaissanceRe by 57.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,137,800 shares of the insurance provider’s stock worth $142,896,000 after acquiring an additional 413,700 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of RenaissanceRe by 21.8% during the fourth quarter. Renaissance Technologies LLC now owns 868,115 shares of the insurance provider’s stock worth $109,027,000 after acquiring an additional 155,100 shares during the last quarter. Cooke & Bieler LP boosted its position in shares of RenaissanceRe by 14.0% during the fourth quarter. Cooke & Bieler LP now owns 1,069,280 shares of the insurance provider’s stock worth $134,291,000 after acquiring an additional 130,908 shares during the last quarter. Finally, ARGA Investment Management LP boosted its position in shares of RenaissanceRe by 799.4% during the fourth quarter. ARGA Investment Management LP now owns 111,351 shares of the insurance provider’s stock worth $13,985,000 after acquiring an additional 98,971 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Citigroup set a $152.00 target price on shares of RenaissanceRe and gave the stock a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of RenaissanceRe from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $125.00 price target on shares of RenaissanceRe in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $145.88.
RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.29. The company had revenue of $288.22 million for the quarter, compared to the consensus estimate of $227.65 million. RenaissanceRe had a negative net margin of 10.57% and a negative return on equity of 7.68%. RenaissanceRe’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.66 earnings per share. research analysts forecast that RenaissanceRe Holdings Ltd. will post 9.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.33 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. RenaissanceRe’s dividend payout ratio is presently -20.16%.
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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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