RenaissanceRe Holdings Ltd. $RNR Position Trimmed by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 28.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,759 shares of the insurance provider’s stock after selling 92,913 shares during the period. First Trust Advisors LP owned 0.50% of RenaissanceRe worth $56,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RNR. Price T Rowe Associates Inc. MD grew its position in shares of RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock valued at $599,049,000 after buying an additional 676,125 shares during the last quarter. Boston Partners boosted its stake in RenaissanceRe by 4.6% in the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider’s stock valued at $505,509,000 after acquiring an additional 92,825 shares during the period. Impax Asset Management Group plc boosted its stake in RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after acquiring an additional 122,732 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RenaissanceRe by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock valued at $183,175,000 after purchasing an additional 101,060 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of RenaissanceRe during the 2nd quarter worth approximately $139,543,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 1.4%

Shares of NYSE:RNR opened at $264.85 on Monday. The company has a 50 day moving average of $258.43 and a 200-day moving average of $248.20. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a market cap of $12.21 billion, a P/E ratio of 7.36, a P/E/G ratio of 1.60 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $288.61.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping the consensus estimate of $9.49 by $6.13. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.23 earnings per share. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio is 4.45%.

Analyst Ratings Changes

A number of research analysts recently commented on RNR shares. Cantor Fitzgerald upgraded RenaissanceRe to a “hold” rating in a research note on Wednesday, August 13th. UBS Group boosted their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Evercore ISI set a $244.00 price objective on shares of RenaissanceRe and gave the stock an “in-line” rating in a report on Wednesday, October 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $303.00 price objective on shares of RenaissanceRe in a research report on Friday. Finally, Cowen restated a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $285.92.

RenaissanceRe Company 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.