RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) by 93.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,628 shares of the insurance provider’s stock after selling 63,596 shares during the quarter. Bank of Nova Scotia’s holdings in RenaissanceRe were worth $724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RNR. Bank of New York Mellon Corp increased its stake in shares of RenaissanceRe by 93.9% in the first quarter. Bank of New York Mellon Corp now owns 923,936 shares of the insurance provider’s stock worth $146,454,000 after acquiring an additional 447,540 shares during the period. JPMorgan Chase & Co. increased its stake in shares of RenaissanceRe by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 1,030,743 shares of the insurance provider’s stock worth $163,382,000 after acquiring an additional 208,690 shares during the period. ARGA Investment Management LP boosted its holdings in RenaissanceRe by 35.1% during the first quarter. ARGA Investment Management LP now owns 590,477 shares of the insurance provider’s stock worth $93,597,000 after buying an additional 153,417 shares in the last quarter. Gladstone Capital Management LLP boosted its holdings in RenaissanceRe by 18.0% during the first quarter. Gladstone Capital Management LLP now owns 991,194 shares of the insurance provider’s stock worth $157,114,000 after buying an additional 151,079 shares in the last quarter. Finally, Capital World Investors boosted its holdings in RenaissanceRe by 5.4% during the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after buying an additional 129,891 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $181.79 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $7.94 billion, a price-to-earnings ratio of -5.82 and a beta of 0.36. RenaissanceRe Holdings Ltd. has a 52-week low of $124.18 and a 52-week high of $187.88. The firm’s fifty day simple moving average is $151.55 and its two-hundred day simple moving average is $146.46.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.81%. The ex-dividend date is Wednesday, December 14th. RenaissanceRe’s payout ratio is -4.74%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RNR shares. Morgan Stanley lowered their price target on shares of RenaissanceRe from $162.00 to $150.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Wells Fargo & Company increased their price target on shares of RenaissanceRe from $171.00 to $184.00 in a report on Thursday, November 3rd. Finally, StockNews.com raised shares of RenaissanceRe from a “sell” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average target price of $165.33.

About RenaissanceRe

(Get Rating)

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, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

See Also

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating).

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.