RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,096 shares of the insurance provider’s stock after selling 562 shares during the period. Voya Investment Management LLC’s holdings in RenaissanceRe were worth $2,761,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in RenaissanceRe in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp grew its stake in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 65 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RNR shares. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays decreased their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a report on Friday, April 11th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Bank of America dropped their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $282.60.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $243.05 on Friday. The business has a 50 day simple moving average of $238.75 and a 200 day simple moving average of $251.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. RenaissanceRe’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $12.18 earnings per share. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 5.10%.

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.