RenaissanceRe Holdings Ltd. $RNR Stock Position Decreased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 25.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,151 shares of the insurance provider’s stock after selling 30,089 shares during the period. Diamond Hill Capital Management Inc.’s holdings in RenaissanceRe were worth $25,066,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in RenaissanceRe by 39.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock valued at $2,325,000 after buying an additional 2,737 shares in the last quarter. Millennium Management LLC bought a new position in RenaissanceRe during the first quarter valued at about $15,289,000. Jones Financial Companies Lllp raised its holdings in RenaissanceRe by 900.0% during the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock valued at $324,000 after buying an additional 1,215 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in RenaissanceRe by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock valued at $13,725,000 after buying an additional 24,027 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of RenaissanceRe by 18.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 69 shares during the period. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Down 1.0%

NYSE:RNR opened at $300.08 on Friday. The stock’s fifty day moving average price is $300.87 and its two-hundred day moving average price is $286.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 5.00, a P/E/G ratio of 0.80 and a beta of 0.22. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $318.20.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.66 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio is 2.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen lifted their price objective on RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Bank of America lowered their price target on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Mizuho set a $325.00 price objective on RenaissanceRe in a report on Monday, May 4th. Wells Fargo & Company lifted their price objective on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average price target of $322.93.

About RenaissanceRe

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.