Polar Capital Holdings Plc Sells 87,835 Shares of RenaissanceRe Holdings Ltd. $RNR

Polar Capital Holdings Plc lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,279,917 shares of the insurance provider’s stock after selling 87,835 shares during the period. RenaissanceRe makes up approximately 1.4% of Polar Capital Holdings Plc’s investment portfolio, making the stock its 12th largest position. Polar Capital Holdings Plc’s holdings in RenaissanceRe were worth $359,861,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares during the period. Kingdom Financial Group LLC. bought a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. boosted its holdings in shares of RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of RenaissanceRe by 134.7% during the fourth quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 101 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $300.64 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The firm has a market cap of $12.82 billion, a P/E ratio of 5.01, a P/E/G ratio of 1.12 and a beta of 0.18. The company’s 50-day moving average price is $298.95 and its two-hundred day moving average price is $290.09.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is presently 2.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RNR shares. Morgan Stanley cut RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a report on Thursday, February 26th. UBS Group boosted their price objective on RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Barclays cut their price target on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Evercore set a $309.00 price target on RenaissanceRe in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods boosted their price target on RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average target price of $323.64.

About RenaissanceRe

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.