RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP Sells $269,000.00 in Stock

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

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $269.40 on Monday. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $271.80. The business’s 50-day moving average price is $246.67 and its two-hundred day moving average price is $232.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $14.05 billion, a P/E ratio of 5.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.

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

RenaissanceRe Announces Dividend

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

Wall Street Analyst Weigh In

RNR has been the subject of several analyst reports. 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. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Citigroup upped their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $272.60.

Hedge Funds Weigh In On RenaissanceRe

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in RenaissanceRe by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock valued at $1,090,875,000 after purchasing an additional 148,173 shares during the last quarter. Capital World Investors raised its holdings in RenaissanceRe by 1.0% in the 4th quarter. Capital World Investors now owns 2,539,332 shares of the insurance provider’s stock worth $497,709,000 after acquiring an additional 25,898 shares during the period. Capital Research Global Investors lifted its position in RenaissanceRe by 5.3% during the 4th quarter. Capital Research Global Investors now owns 1,423,281 shares of the insurance provider’s stock worth $278,963,000 after acquiring an additional 71,377 shares during the last quarter. American International Group Inc. boosted its holdings in RenaissanceRe by 1,829.6% during the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after acquiring an additional 1,321,325 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of RenaissanceRe by 7.7% in the second quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock valued at $286,028,000 after purchasing an additional 91,425 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

About RenaissanceRe

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.