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 that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

RenaissanceRe Trading Up 0.8 %

Shares of NYSE:RNR opened at $257.07 on Friday. The firm has a fifty day moving average of $262.72 and a two-hundred day moving average of $254.55. 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 Holdings Ltd. has a 12-month low of $203.35 and a 12-month high of $300.00. The firm has a market capitalization of $13.35 billion, a P/E ratio of 3.70, a price-to-earnings-growth ratio of 1.79 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $8.33 earnings per share. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 42.29 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RNR shares. Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Bank of America lifted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $284.00.

Institutional Investors Weigh In On RenaissanceRe

A number of large investors have recently bought and sold shares of the business. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after purchasing an additional 109,851 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in RenaissanceRe during the third quarter valued at approximately $18,969,000. Northwest & Ethical Investments L.P. bought a new position in shares of RenaissanceRe in the third quarter valued at approximately $17,086,000. Finally, World Investment Advisors LLC acquired a new stake in shares of RenaissanceRe in the third quarter worth $16,176,000. 99.97% of the stock is currently owned by institutional investors.

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.