RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP David E. Marra Sells 1,000 Shares

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares in the company, valued at approximately $22,338,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $269.40 on Friday. The stock has a market capitalization of $14.05 billion, a P/E ratio of 5.95, a PEG ratio of 1.44 and a beta of 0.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $246.67 and its 200 day moving average price is $232.52. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $271.80.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. As a group, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RNR. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Bank of America lifted their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Morgan Stanley reduced their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company cut their price target on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four 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 a consensus target price of $272.60.

Institutional Investors Weigh In On RenaissanceRe

A number of large investors have recently added to or reduced their stakes in RNR. Riverview Trust Co acquired a new stake in RenaissanceRe during the 1st quarter valued at approximately $26,000. Blue Trust Inc. acquired a new stake in RenaissanceRe in the second quarter valued at $27,000. Rise Advisors LLC bought a new position in RenaissanceRe during the 1st quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter worth about $31,000. Finally, Mather Group LLC. bought a new position in shares of RenaissanceRe during the first quarter worth about $34,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Company 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.