TAP Consulting LLC Sells 14,234 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

TAP Consulting LLC trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 91.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,277 shares of the insurance provider’s stock after selling 14,234 shares during the period. TAP Consulting LLC’s holdings in RenaissanceRe were worth $205,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Veriti Management LLC bought a new position in shares of RenaissanceRe during the fourth quarter valued at about $27,000. Harbor Investment Advisory LLC raised its stake in RenaissanceRe by 63.1% in the first quarter. Harbor Investment Advisory LLC now owns 729 shares of the insurance provider’s stock worth $117,000 after buying an additional 282 shares in the last quarter. 6 Meridian bought a new position in RenaissanceRe in the first quarter worth about $211,000. Fox Run Management L.L.C. bought a new position in RenaissanceRe in the fourth quarter worth about $214,000. Finally, Redpoint Investment Management Pty Ltd bought a new position in RenaissanceRe in the first quarter worth about $219,000. 94.27% of the stock is owned by hedge funds and other institutional investors.

Shares of RNR opened at $149.49 on Friday. The stock has a market capitalization of $7.42 billion, a PE ratio of 13.07 and a beta of 0.46. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.17. RenaissanceRe Holdings Ltd. has a fifty-two week low of $144.03 and a fifty-two week high of $191.69. The business has a 50-day simple moving average of $162.04.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.65). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.67 billion. RenaissanceRe had a return on equity of 0.22% and a net margin of 10.74%. RenaissanceRe’s revenue for the quarter was up 43.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. On average, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 10.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 14th. RenaissanceRe’s payout ratio is 1,200.00%.

A number of research firms recently issued reports on RNR. Morgan Stanley decreased their price target on shares of RenaissanceRe from $195.00 to $191.00 and set an “equal weight” rating for the company in a research note on Friday, April 16th. Zacks Investment Research raised shares of RenaissanceRe from a “sell” rating to a “hold” rating and set a $180.00 price target for the company in a research note on Wednesday, March 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $189.67.

RenaissanceRe 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 hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, 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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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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