RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP Sells $279,000.00 in Stock

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RenaissanceRe Trading Up 2.1 %

RNR opened at $279.69 on Monday. The firm has a market capitalization of $14.59 billion, a PE ratio of 6.18, a P/E/G ratio of 1.71 and a beta of 0.38. 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 fifty-two week low of $188.24 and a fifty-two week high of $279.76. The company’s 50-day moving average is $251.77 and its 200 day moving average is $233.87.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 39.46 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.39 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.56%. RenaissanceRe’s payout ratio is 3.45%.

Institutional Trading of RenaissanceRe

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its position in RenaissanceRe by 197.5% in the 4th quarter. Parallel Advisors LLC now owns 351 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 233 shares in the last quarter. KBC Group NV purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $190,000. Royal London Asset Management Ltd. lifted its holdings in RenaissanceRe by 38.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock worth $4,863,000 after acquiring an additional 6,874 shares during the period. Capital Research Global Investors boosted its position in RenaissanceRe by 5.3% in the fourth quarter. Capital Research Global Investors now owns 1,423,281 shares of the insurance provider’s stock worth $278,963,000 after purchasing an additional 71,377 shares during the last quarter. Finally, Capital World Investors grew its stake in RenaissanceRe by 1.0% in the 4th quarter. Capital World Investors now owns 2,539,332 shares of the insurance provider’s stock valued at $497,709,000 after purchasing an additional 25,898 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RNR. Morgan Stanley decreased their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Citigroup lifted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, Bank of America increased their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $275.56.

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.