Investec Asset Management LTD Buys New Stake in RenaissanceRe Holdings Ltd. (RNR)

Investec Asset Management LTD bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, Holdings Channel reports. The institutional investor bought 43,793 shares of the company’s stock, valued at approximately $5,965,000. Investec Asset Management LTD owned approximately 0.11% of RenaissanceRe Holdings as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tredje AP fonden increased its position in RenaissanceRe Holdings by 38.3% in the fourth quarter. Tredje AP fonden now owns 23,321 shares of the company’s stock worth $3,177,000 after buying an additional 6,461 shares in the last quarter. Dimensional Fund Advisors LP increased its position in RenaissanceRe Holdings by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,792 shares of the company’s stock worth $164,934,000 after buying an additional 9,294 shares in the last quarter. Comerica Bank increased its position in RenaissanceRe Holdings by 6.1% in the fourth quarter. Comerica Bank now owns 31,008 shares of the company’s stock worth $4,279,000 after buying an additional 1,784 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in RenaissanceRe Holdings by 1.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 67,823 shares of the company’s stock worth $9,239,000 after buying an additional 1,057 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in RenaissanceRe Holdings during the fourth quarter worth $220,000. 94.24% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for RenaissanceRe Holdings (NYSE:RNR)

RenaissanceRe Holdings Ltd. (NYSE:RNR) traded up 0.16% on Wednesday, hitting $143.53. The stock had a trading volume of 100,572 shares. The company has a market cap of $5.81 billion, a P/E ratio of 12.56 and a beta of 0.52. RenaissanceRe Holdings Ltd. has a 52-week low of $107.27 and a 52-week high of $144.26. The firm’s 50-day moving average is $138.38 and its 200-day moving average is $127.41.

RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 31st. The company reported $2.92 EPS for the quarter, topping the consensus estimate of $1.22 by $1.70. RenaissanceRe Holdings had a return on equity of 7.99% and a net margin of 29.11%. The business earned $353.97 million during the quarter, compared to analyst estimates of $431.41 million. During the same period last year, the business posted $3.07 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post $9.48 earnings per share for the current fiscal year.

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A number of research analysts have weighed in on the company. Zacks Investment Research downgraded RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup Inc. initiated coverage on RenaissanceRe Holdings in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $143.00 price objective on the stock. Deutsche Bank AG downgraded RenaissanceRe Holdings from a “buy” rating to a “hold” rating and set a $131.78 price objective on the stock. in a research note on Monday, November 21st. Finally, Goldman Sachs Group, Inc. (The) raised RenaissanceRe Holdings from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $101.00 to $125.00 in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. RenaissanceRe Holdings has a consensus rating of “Hold” and a consensus target price of $132.36.

In other news, SVP Rider Fonner Todd sold 4,049 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $139.91, for a total transaction of $566,495.59. Following the completion of the transaction, the senior vice president now directly owns 77,437 shares in the company, valued at $10,834,210.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Stephen Howard Weinstein sold 16,976 shares of the firm’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $130.62, for a total value of $2,217,405.12. Following the transaction, the senior vice president now owns 85,376 shares of the company’s stock, valued at $11,151,813.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,122 shares of company stock valued at $8,204,023. Company insiders own 2.40% of the company’s stock.

About RenaissanceRe Holdings

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.

5 Day Chart for NYSE:RNR

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