TAP Consulting LLC Trims Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

TAP Consulting LLC cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,324 shares of the insurance provider’s stock after selling 952 shares during the period. TAP Consulting LLC’s holdings in RenaissanceRe were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of RenaissanceRe by 1.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 59 shares in the last quarter. Xponance Inc. boosted its position in shares of RenaissanceRe by 1.0% during the third quarter. Xponance Inc. now owns 7,590 shares of the insurance provider’s stock worth $1,502,000 after acquiring an additional 75 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of RenaissanceRe by 0.5% during the third quarter. Nordea Investment Management AB now owns 16,652 shares of the insurance provider’s stock worth $3,352,000 after acquiring an additional 89 shares during the last quarter. Aviva PLC boosted its position in shares of RenaissanceRe by 5.8% during the third quarter. Aviva PLC now owns 1,790 shares of the insurance provider’s stock worth $354,000 after acquiring an additional 98 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of RenaissanceRe by 1.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 7,810 shares of the insurance provider’s stock worth $1,546,000 after acquiring an additional 114 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the sale, the executive vice president now owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock worth $958,429 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

RenaissanceRe Trading Down 0.1 %

Shares of RNR stock traded down $0.20 during trading hours on Thursday, reaching $219.60. 213,986 shares of the stock were exchanged, compared to its average volume of 358,260. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $227.06 and its 200-day moving average price is $216.09. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 4.29, a price-to-earnings-growth ratio of 2.92 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company earned $7.33 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. RenaissanceRe’s payout ratio is currently 3.05%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RNR shares. UBS Group upped their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI upped their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. TD Cowen started coverage on shares of RenaissanceRe in a research note on Wednesday, January 10th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets lifted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $247.89.

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.