RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Nepsis Inc.

Nepsis Inc. cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 37.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,389 shares of the insurance provider’s stock after selling 48,594 shares during the period. RenaissanceRe comprises approximately 4.8% of Nepsis Inc.’s portfolio, making the stock its 8th largest position. Nepsis Inc. owned 0.16% of RenaissanceRe worth $19,293,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RNR. Bleakley Financial Group LLC grew its position in shares of RenaissanceRe by 83.5% in the 4th quarter. Bleakley Financial Group LLC now owns 2,112 shares of the insurance provider’s stock valued at $525,000 after buying an additional 961 shares during the last quarter. Lightrock Netherlands B.V. bought a new position in shares of RenaissanceRe during the fourth quarter worth about $4,607,000. Autumn Glory Partners LLC boosted its holdings in RenaissanceRe by 100.0% in the fourth quarter. Autumn Glory Partners LLC now owns 2,000 shares of the insurance provider’s stock valued at $498,000 after acquiring an additional 1,000 shares during the last quarter. Principal Securities Inc. boosted its holdings in RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock valued at $141,000 after acquiring an additional 60 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in RenaissanceRe by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,610 shares of the insurance provider’s stock valued at $401,000 after purchasing an additional 80 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO James Christopher Fraser sold 332 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the sale, the chief accounting officer now owns 27,154 shares in the company, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RNR. Keefe, Bruyette & Woods upped their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group decreased their target price on RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Barclays dropped their price target on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley set a $285.00 price objective on shares of RenaissanceRe and gave the stock an “overweight” rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $283.60.

RenaissanceRe Trading Down 1.2%

NYSE RNR opened at $243.93 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $241.31 and a 200 day simple moving average of $246.65. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The firm has a market capitalization of $11.87 billion, a P/E ratio of 6.97, a PEG ratio of 2.09 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the company earned $12.18 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is currently 5.10%.

About RenaissanceRe

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.