Deutsche Bank AG Sells 213 Shares of RenaissanceRe Holdings Ltd. $RNR

Deutsche Bank AG reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,502 shares of the insurance provider’s stock after selling 213 shares during the period. Deutsche Bank AG’s holdings in RenaissanceRe were worth $2,520,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RNR. Polar Capital Holdings Plc raised its holdings in RenaissanceRe by 5.7% during the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider’s stock worth $323,003,000 after acquiring an additional 69,884 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock worth $299,458,000 after purchasing an additional 190,139 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of RenaissanceRe by 17.9% in the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider’s stock valued at $203,339,000 after buying an additional 124,125 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RenaissanceRe by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,150 shares of the insurance provider’s stock valued at $164,752,000 after buying an additional 21,287 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in RenaissanceRe by 8.2% during the fourth quarter. Northern Trust Corp now owns 559,805 shares of the insurance provider’s stock worth $139,285,000 after buying an additional 42,385 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $243.5190 on Wednesday. The business has a fifty day moving average price of $241.26 and a two-hundred day moving average price of $240.18. The stock has a market capitalization of $11.46 billion, a PE ratio of 6.22, a P/E/G ratio of 2.35 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.28 by $2.01. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $12.41 earnings per share. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.09%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a research note on Monday, July 28th. Morgan Stanley dropped their price target on RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. UBS Group upped their price objective on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Citigroup assumed coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They set a “buy” rating and a $288.00 target price for the company. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $282.09.

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.