American International Group Inc. Decreases Position in RenaissanceRe Holdings Ltd. (RNR)

American International Group Inc. decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,110 shares of the insurance provider’s stock after selling 2,766 shares during the period. American International Group Inc. owned about 0.21% of RenaissanceRe worth $11,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in RenaissanceRe by 38.5% during the 4th quarter. Toronto Dominion Bank now owns 2,375 shares of the insurance provider’s stock worth $299,000 after acquiring an additional 660 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in RenaissanceRe during the 4th quarter worth about $176,000. TimesSquare Capital Management LLC lifted its stake in RenaissanceRe by 57.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,137,800 shares of the insurance provider’s stock worth $142,896,000 after acquiring an additional 413,700 shares in the last quarter. Arizona State Retirement System lifted its stake in RenaissanceRe by 26.0% during the 4th quarter. Arizona State Retirement System now owns 28,811 shares of the insurance provider’s stock worth $3,618,000 after acquiring an additional 5,949 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in RenaissanceRe by 5.9% during the 4th quarter. Amalgamated Bank now owns 8,119 shares of the insurance provider’s stock worth $1,020,000 after acquiring an additional 450 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

RNR stock opened at $127.23 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of -15.24, a P/E/G ratio of 1.25 and a beta of 0.51. RenaissanceRe Holdings Ltd. has a 1 year low of $127.90 and a 1 year high of $128.55.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.78. The company had revenue of $663.04 million for the quarter, compared to analyst estimates of $644.39 million. RenaissanceRe had a negative return on equity of 5.80% and a negative net margin of 12.59%. RenaissanceRe’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. equities analysts forecast that RenaissanceRe Holdings Ltd. will post 10.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, June 14th. RenaissanceRe’s dividend payout ratio is currently -15.81%.

RNR has been the topic of several research reports. Wells Fargo reissued a “hold” rating and set a $125.00 target price on shares of RenaissanceRe in a research note on Wednesday, January 31st. Citigroup decreased their target price on RenaissanceRe from $161.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Finally, Zacks Investment Research raised RenaissanceRe from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $145.50.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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