Swiss National Bank Reduces Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Swiss National Bank cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,800 shares of the insurance provider’s stock after selling 11,700 shares during the period. Swiss National Bank’s holdings in RenaissanceRe were worth $19,757,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in RenaissanceRe by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock valued at $1,072,235,000 after buying an additional 120,302 shares in the last quarter. Boston Partners increased its holdings in RenaissanceRe by 7.1% in the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock valued at $406,390,000 after buying an additional 135,861 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in RenaissanceRe by 7.5% in the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock valued at $218,653,000 after buying an additional 77,319 shares in the last quarter. Cooke & Bieler LP increased its holdings in RenaissanceRe by 97.9% in the fourth quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock valued at $213,440,000 after buying an additional 538,636 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in RenaissanceRe by 2.9% in the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock valued at $108,558,000 after buying an additional 15,692 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 0.4 %

Shares of RNR opened at $225.81 on Friday. The firm has a market cap of $11.94 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The company’s fifty day moving average is $226.30 and its two-hundred day moving average is $216.51. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. RenaissanceRe’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter last year, the business earned $8.16 EPS. Analysts forecast that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

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.