Middleton & Co. Inc. MA Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Middleton & Co. Inc. MA trimmed its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,019 shares of the insurance provider’s stock after selling 775 shares during the quarter. Middleton & Co. Inc. MA’s holdings in RenaissanceRe were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of RenaissanceRe by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,594 shares of the insurance provider’s stock valued at $1,550,000 after purchasing an additional 78 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in RenaissanceRe during the first quarter valued at $263,000. State of Michigan Retirement System boosted its holdings in RenaissanceRe by 3.2% in the first quarter. State of Michigan Retirement System now owns 12,965 shares of the insurance provider’s stock worth $3,047,000 after acquiring an additional 400 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of RenaissanceRe by 47.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock worth $5,815,000 after acquiring an additional 7,975 shares during the last quarter. Finally, Carret Asset Management LLC bought a new position in shares of RenaissanceRe during the first quarter valued at $235,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Trading Down 1.5 %

Shares of NYSE:RNR opened at $268.36 on Friday. The stock’s 50-day simple moving average is $264.11 and its two-hundred day simple moving average is $238.33. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 1.80 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $284.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data 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 company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. Analysts expect that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of a number of analyst reports. UBS Group dropped their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $267.00 to $274.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Citigroup boosted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Morgan Stanley reduced their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Jefferies Financial Group upped their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $289.00.

RenaissanceRe 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.