RenaissanceRe Holdings Ltd. $RNR is Nepsis Inc.’s 10th Largest Position

Nepsis Inc. lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,526 shares of the insurance provider’s stock after selling 7,949 shares during the quarter. RenaissanceRe comprises about 4.7% of Nepsis Inc.’s holdings, making the stock its 10th largest position. Nepsis Inc. owned 0.12% of RenaissanceRe worth $14,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RNR. Exchange Traded Concepts LLC increased its position in RenaissanceRe by 1.2% during the third quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock worth $852,000 after purchasing an additional 40 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after buying an additional 42 shares during the period. Benedict Financial Advisors Inc. grew its stake in shares of RenaissanceRe by 0.3% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after buying an additional 42 shares during the period. Miracle Mile Advisors LLC increased its holdings in shares of RenaissanceRe by 3.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock worth $319,000 after buying an additional 46 shares during the last quarter. Finally, Rossby Financial LCC raised its position in shares of RenaissanceRe by 6.2% in the 2nd quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after buying an additional 49 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 2.4%

RNR opened at $272.86 on Friday. The firm’s 50 day moving average is $269.55 and its 200-day moving average is $253.51. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $285.26. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $12.58 billion, a P/E ratio of 7.58, a P/E/G ratio of 6.64 and a beta of 0.26.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business posted $10.23 earnings per share. RenaissanceRe’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $303.00 target price on shares of RenaissanceRe in a research report on Friday, December 5th. Morgan Stanley restated an “overweight” rating and issued a $300.00 price target on shares of RenaissanceRe in a report on Tuesday, December 16th. Evercore ISI boosted their price objective on shares of RenaissanceRe from $250.00 to $283.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $295.67.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.