RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,060 shares of the insurance provider’s stock after selling 8,584 shares during the quarter. Royce & Associates LP’s holdings in RenaissanceRe were worth $31,070,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RNR. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe during the second quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of RenaissanceRe during the third quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of RenaissanceRe during the second quarter worth approximately $31,000. UMB Bank n.a. increased its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of RenaissanceRe during the first quarter worth approximately $46,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated 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 owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $256.96 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The business’s fifty day simple moving average is $267.93 and its 200-day simple moving average is $242.85. The firm has a market cap of $13.35 billion, a PE ratio of 3.70, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $8.33 EPS. The company’s quarterly revenue was up 52.1% on a year-over-year basis. Equities analysts forecast that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RNR. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods dropped their price target on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday. Wells Fargo & Company upped their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup upped their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $293.00.

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.