National Bank of Canada FI Sells 6,294 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

National Bank of Canada FI reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 97.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190 shares of the insurance provider’s stock after selling 6,294 shares during the quarter. National Bank of Canada FI’s holdings in RenaissanceRe were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Amalgamated Bank increased its holdings in shares of RenaissanceRe by 0.8% in the 4th quarter. Amalgamated Bank now owns 35,158 shares of the insurance provider’s stock worth $6,891,000 after buying an additional 282 shares during the last quarter. First Horizon Advisors Inc. increased its stake in RenaissanceRe by 88.0% in the fourth quarter. First Horizon Advisors Inc. now owns 344 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 161 shares during the last quarter. LGT Group Foundation purchased a new stake in RenaissanceRe during the fourth quarter valued at about $5,063,000. First Trust Direct Indexing L.P. lifted its stake in RenaissanceRe by 5.8% during the fourth quarter. First Trust Direct Indexing L.P. now owns 3,041 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 168 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in shares of RenaissanceRe by 9.1% in the 4th quarter. New York Life Investment Management LLC now owns 5,747 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $229.43 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $226.21 and a 200-day moving average price of $216.88. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of 1.98 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The business’s revenue was up 41.3% on a year-over-year basis. During the same quarter last year, the business posted $8.16 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 36.88 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 14th. RenaissanceRe’s payout ratio is currently 3.45%.

Wall Street Analyst Weigh In

RNR has been the topic of a number of research reports. Evercore ISI raised their price objective on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. UBS Group upped their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. BMO Capital Markets lifted their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $249.00.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.