Royce & Associates LP Has $31.07 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Royce & Associates LP lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,060 shares of the insurance provider's stock after selling 8,584 shares during the quarter. Royce & Associates LP owned approximately 0.22% of RenaissanceRe worth $31,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in RenaissanceRe in the 1st quarter valued at about $46,000. Wedge Capital Management L L P NC acquired a new position in shares of RenaissanceRe in the second quarter valued at approximately $2,887,000. Russell Investments Group Ltd. increased its stake in shares of RenaissanceRe by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider's stock worth $6,451,000 after purchasing an additional 3,962 shares during the period. Intech Investment Management LLC lifted its holdings in RenaissanceRe by 52.9% during the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider's stock worth $1,608,000 after purchasing an additional 2,490 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in RenaissanceRe by 741.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider's stock valued at $261,000 after purchasing an additional 979 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of RNR traded up $3.27 during midday trading on Friday, hitting $260.23. The company's stock had a trading volume of 583,185 shares, compared to its average volume of 356,281. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $300.00. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 3.70, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39. The company's fifty day simple moving average is $267.93 and its two-hundred day simple moving average is $242.85.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $8.33 earnings per share. The business's quarterly revenue was up 52.1% on a year-over-year basis. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is 2.25%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barclays initiated coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Finally, Citigroup boosted their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $293.00.

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.