Nordea Investment Management AB Acquires 1,240 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Nordea Investment Management AB grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,422 shares of the insurance provider’s stock after purchasing an additional 1,240 shares during the period. Nordea Investment Management AB’s holdings in RenaissanceRe were worth $3,604,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Everence Capital Management Inc. bought a new position in RenaissanceRe in the fourth quarter valued at about $304,000. GAMMA Investing LLC boosted its stake in shares of RenaissanceRe by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider’s stock valued at $293,000 after purchasing an additional 220 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of RenaissanceRe by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider’s stock valued at $2,516,000 after purchasing an additional 232 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in RenaissanceRe during the 3rd quarter worth approximately $405,000. Finally, World Investment Advisors LLC bought a new position in RenaissanceRe in the 3rd quarter valued at approximately $16,176,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Evercore ISI boosted their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $286.36.

RenaissanceRe Trading Down 1.3 %

NYSE:RNR opened at $250.01 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $199.73 and a 52 week high of $300.00. 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 firm’s fifty day moving average is $264.06 and its 200-day moving average is $253.61. The firm has a market cap of $12.99 billion, a P/E ratio of 3.60, a P/E/G ratio of 1.31 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business’s revenue was up 52.1% compared to the same quarter last year. During the same period last year, the business posted $8.33 EPS. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.62%. RenaissanceRe’s payout ratio is currently 2.25%.

About RenaissanceRe

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.