Leuthold Group LLC Decreases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Leuthold Group LLC reduced its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,309 shares of the insurance provider’s stock after selling 1,007 shares during the period. Leuthold Group LLC’s holdings in RenaissanceRe were worth $8,256,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of RenaissanceRe by 6.0% during the third quarter. State of Alaska Department of Revenue now owns 6,059 shares of the insurance provider’s stock worth $1,650,000 after acquiring an additional 345 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in RenaissanceRe by 1.9% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 12,517 shares of the insurance provider’s stock valued at $3,410,000 after purchasing an additional 230 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in RenaissanceRe by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,757 shares of the insurance provider’s stock worth $1,841,000 after purchasing an additional 76 shares during the last quarter. Private Advisor Group LLC raised its position in shares of RenaissanceRe by 63.4% in the 3rd quarter. Private Advisor Group LLC now owns 2,553 shares of the insurance provider’s stock valued at $695,000 after purchasing an additional 991 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of RenaissanceRe by 45.9% in the 3rd quarter. Signaturefd LLC now owns 445 shares of the insurance provider’s stock valued at $121,000 after purchasing an additional 140 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RNR. Wells Fargo & Company lifted their price target on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley cut their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Down 3.1 %

NYSE:RNR opened at $260.01 on Monday. The firm has a market capitalization of $13.75 billion, a PE ratio of 5.93, a price-to-earnings-growth 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 current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $264.11 and a 200-day moving average of $238.57.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

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.