Nepsis Inc. Has $14.86 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Nepsis Inc. lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,526 shares of the insurance provider’s stock after selling 7,949 shares during the quarter. RenaissanceRe makes up approximately 4.7% of Nepsis Inc.’s holdings, making the stock its 10th biggest holding. Nepsis Inc.’s holdings in RenaissanceRe were worth $14,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RNR. Norges Bank bought a new stake in RenaissanceRe in the second quarter valued at about $139,543,000. JPMorgan Chase & Co. grew its position in shares of RenaissanceRe by 152.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock worth $58,136,000 after acquiring an additional 144,547 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of RenaissanceRe by 11.2% in the 2nd quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after acquiring an additional 122,732 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of RenaissanceRe by 17.6% in the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after acquiring an additional 120,063 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of RenaissanceRe by 111.8% during the 2nd quarter. Mackenzie Financial Corp now owns 167,420 shares of the insurance provider’s stock valued at $40,666,000 after acquiring an additional 88,367 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on RNR. Zacks Research downgraded shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of RenaissanceRe from $250.00 to $283.00 and gave the company an “in-line” rating in a research report on Wednesday. TD Cowen raised their target price on shares of RenaissanceRe from $278.00 to $280.00 and gave the stock a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $295.67.

RenaissanceRe Trading Down 2.4%

Shares of NYSE:RNR opened at $272.86 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $269.55 and its 200 day moving average price is $253.51. The company has a market cap of $12.58 billion, a PE ratio of 7.58, a P/E/G ratio of 6.64 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $285.26.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating the consensus estimate of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the business earned $10.23 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, December 15th. RenaissanceRe’s payout ratio is currently 4.45%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.