David E. Marra Sells 1,000 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) 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 shares were 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 owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RenaissanceRe Stock Up 2.1 %

Shares of NYSE RNR opened at $279.69 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $279.76. 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 market cap 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 50-day moving average of $251.77 and a 200 day moving average of $233.88.

RenaissanceRe (NYSE:RNR) last issued its earnings results 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 return on equity of 27.74% and a net margin of 25.38%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 39.46 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RNR shares. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company cut their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Bank of America increased their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a report on Thursday, July 11th. UBS Group cut their target price on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Morgan Stanley reduced their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $272.60.

Hedge Funds Weigh In On RenaissanceRe

Institutional investors and hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of RenaissanceRe during the 1st quarter valued at approximately $46,000. Royal London Asset Management Ltd. raised its position in RenaissanceRe by 38.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after purchasing an additional 6,874 shares during the period. American International Group Inc. lifted its stake in shares of RenaissanceRe by 1,829.6% in the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after purchasing an additional 1,321,325 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of RenaissanceRe during the 2nd quarter worth $2,887,000. Finally, Russell Investments Group Ltd. increased its position in shares of RenaissanceRe by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after purchasing an additional 3,962 shares during the last quarter. 99.97% of the stock is currently 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.