Fulton Bank N.A. Purchases 146 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fulton Bank N.A. lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,353 shares of the insurance provider’s stock after buying an additional 146 shares during the quarter. Fulton Bank N.A.’s holdings in RenaissanceRe were worth $749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co bought a new stake in shares of RenaissanceRe during the 1st quarter valued at $26,000. Rise Advisors LLC acquired a new position in RenaissanceRe in the first quarter valued at about $31,000. Mather Group LLC. bought a new position in RenaissanceRe during the first quarter worth about $34,000. GAMMA Investing LLC acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $37,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of RenaissanceRe in the 4th quarter valued at about $39,000. 99.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. UBS Group lowered their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Evercore ISI raised their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley reduced their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $263.40.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 85,544 shares of the company’s stock, valued at $19,675,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Up 1.4 %

NYSE:RNR traded up $3.16 on Wednesday, hitting $230.52. 62,620 shares of the company’s stock were exchanged, compared to its average volume of 343,092. The firm has a 50-day moving average price of $224.11 and a 200-day moving average price of $224.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. RenaissanceRe Holdings Ltd. has a 52 week low of $174.22 and a 52 week high of $239.42. The company has a market cap of $12.02 billion, a P/E ratio of 5.02, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.68%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

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.