Mutual of America Capital Management LLC Sells 2,457 Shares of RenaissanceRe Holdings Ltd. $RNR

Mutual of America Capital Management LLC trimmed its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,737 shares of the insurance provider’s stock after selling 2,457 shares during the period. Mutual of America Capital Management LLC’s holdings in RenaissanceRe were worth $5,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. bought a new stake in RenaissanceRe in the 3rd quarter worth approximately $1,564,000. Y Intercept Hong Kong Ltd raised its stake in shares of RenaissanceRe by 812.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock worth $4,337,000 after acquiring an additional 15,207 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of RenaissanceRe by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock worth $81,208,000 after acquiring an additional 3,070 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of RenaissanceRe by 207.2% in the 3rd quarter. Nordea Investment Management AB now owns 41,871 shares of the insurance provider’s stock valued at $10,539,000 after purchasing an additional 28,241 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of RenaissanceRe during the 2nd quarter valued at $4,980,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RNR. Keefe, Bruyette & Woods boosted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Mizuho set a $277.00 target price on RenaissanceRe in a research note on Wednesday, January 14th. BMO Capital Markets restated an “outperform” rating and set a $303.00 price target on shares of RenaissanceRe in a research report on Friday, December 5th. Zacks Research cut RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, UBS Group increased their price objective on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $298.07.

RenaissanceRe Stock Up 0.4%

Shares of NYSE:RNR opened at $275.60 on Thursday. The stock’s 50-day moving average is $271.66 and its 200 day moving average is $256.54. The company has a market cap of $12.71 billion, a PE ratio of 7.66, a P/E/G ratio of 2.87 and a beta of 0.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.40. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $285.26.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company earned $10.23 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s payout ratio is 4.45%.

RenaissanceRe Profile

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.