21,641 RenaissanceRe Holdings Ltd. $RNR Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,697 shares of the insurance provider’s stock after selling 21,641 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in RenaissanceRe were worth $102,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RNR. BlackRock Inc. bought a new position in shares of RenaissanceRe in the 2nd quarter worth approximately $1,319,724,000. GQG Partners LLC bought a new stake in RenaissanceRe during the second quarter valued at approximately $185,351,000. Bank of New York Mellon Corp bought a new stake in RenaissanceRe during the second quarter valued at approximately $116,717,000. Great Lakes Advisors LLC purchased a new stake in RenaissanceRe during the second quarter valued at approximately $87,916,000. Finally, Lightrock Netherlands B.V. increased its holdings in RenaissanceRe by 15.8% during the first quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock valued at $350,263,000 after buying an additional 160,915 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $355.36 on Thursday. The firm has a fifty day moving average price of $329.74 and a 200-day moving average price of $315.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $14.77 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.12. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $357.07.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The firm had revenue of $2.77 billion for the quarter. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 45.66 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 15th. RenaissanceRe’s dividend payout ratio is presently 2.81%.

Insider Buying and Selling

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the sale, the executive vice president directly owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on RNR. Royal Bank Of Canada initiated coverage on shares of RenaissanceRe in a research note on Tuesday, September 22nd. They set a “sector perform” rating and a $365.00 price target on the stock. Jefferies Financial Group upgraded RenaissanceRe from a “hold” rating to a “market outperform” rating in a research note on Tuesday, September 22nd. Wolfe Research set a $315.00 price objective on RenaissanceRe in a research note on Tuesday, July 7th. Morgan Stanley raised their target price on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, Mizuho raised their target price on RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $337.50.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.