UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,614 shares of the insurance provider’s stock after selling 12,619 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in RenaissanceRe were worth $49,744,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after purchasing an additional 415,366 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after buying an additional 86,562 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after buying an additional 109,851 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock worth $56,987,000 after acquiring an additional 7,718 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. increased its position in RenaissanceRe by 12.8% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider’s stock valued at $50,910,000 after acquiring an additional 25,760 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $286.78 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The company’s fifty day moving average price is $271.36 and its 200-day moving average price is $247.49. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $300.00. The company has a market capitalization of $14.90 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.33 EPS. On average, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RNR. Wells Fargo & Company boosted their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.00.

RenaissanceRe Profile

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.