RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,902 shares of the insurance provider’s stock after selling 1,317 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of RenaissanceRe worth $8,072,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RNR. Price T Rowe Associates Inc. MD raised its holdings in shares of RenaissanceRe by 241.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,237,063 shares of the insurance provider’s stock valued at $481,739,000 after buying an additional 2,287,848 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of RenaissanceRe by 291.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 756,602 shares of the insurance provider’s stock valued at $112,598,000 after buying an additional 563,488 shares during the period. Cooke & Bieler LP raised its holdings in shares of RenaissanceRe by 74.2% in the 2nd quarter. Cooke & Bieler LP now owns 775,700 shares of the insurance provider’s stock valued at $115,440,000 after buying an additional 330,344 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of RenaissanceRe in the 3rd quarter valued at $8,104,000. Finally, Renaissance Technologies LLC raised its holdings in shares of RenaissanceRe by 144.3% in the 2nd quarter. Renaissance Technologies LLC now owns 207,382 shares of the insurance provider’s stock valued at $30,863,000 after buying an additional 122,495 shares during the period. 96.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of RNR traded up $0.32 during mid-day trading on Friday, reaching $170.00. The company’s stock had a trading volume of 2,998 shares, compared to its average volume of 327,563. RenaissanceRe Holdings Ltd. has a 12-month low of $137.66 and a 12-month high of $175.12. The stock has a market cap of $7.82 billion, a PE ratio of -67.07 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50 day moving average is $163.86 and its 200 day moving average is $154.84.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Sunday, October 24th. The insurance provider reported ($8.98) EPS for the quarter, beating analysts’ consensus estimates of ($9.38) by $0.40. RenaissanceRe had a negative return on equity of 2.85% and a negative net margin of 1.19%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business posted ($2.64) EPS. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 0.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a $0.36 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.85%. RenaissanceRe’s dividend payout ratio (DPR) is presently -56.92%.

Several research firms recently issued reports on RNR. Bank of America upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $163.00 to $218.00 in a report on Monday, November 8th. TheStreet downgraded RenaissanceRe from a “b-” rating to a “c” rating in a report on Monday, October 25th. Zacks Investment Research downgraded RenaissanceRe from a “hold” rating to a “strong sell” rating and set a $140.00 price target on the stock. in a report on Tuesday, December 7th. Morgan Stanley upped their price target on RenaissanceRe from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, November 19th. Finally, Jefferies Financial Group assumed coverage on RenaissanceRe in a report on Thursday, November 18th. They set a “buy” rating and a $192.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $184.33.

In related news, CEO Kevin Odonnell acquired 15,000 shares of the firm’s stock in a transaction on Friday, October 29th. The stock was bought at an average cost of $144.14 per share, with a total value of $2,162,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Qutub acquired 3,400 shares of the firm’s stock in a transaction on Friday, October 29th. The shares were bought at an average cost of $144.14 per share, with a total value of $490,076.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 23,340 shares of company stock valued at $3,365,065. Insiders own 1.30% of the company’s stock.

About RenaissanceRe

RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following segments: Property, Casualty and Specialty, and Other. The Property segment comprises of catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance and insurance.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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