Captrust Financial Advisors Has $1.65 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Captrust Financial Advisors trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 29.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,072 shares of the insurance provider’s stock after selling 2,529 shares during the quarter. Captrust Financial Advisors’ holdings in RenaissanceRe were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new position in RenaissanceRe during the second quarter worth about $2,887,000. Intech Investment Management LLC boosted its stake in RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after purchasing an additional 2,490 shares during the period. Algert Global LLC bought a new stake in shares of RenaissanceRe during the second quarter valued at about $1,186,000. National Bank of Canada FI lifted its holdings in shares of RenaissanceRe by 1,381.3% in the second quarter. National Bank of Canada FI now owns 5,377 shares of the insurance provider’s stock worth $1,189,000 after buying an additional 5,014 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after acquiring an additional 8,844 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Finally, Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average target price of $293.00.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the firm’s 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 sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $279.83 on Friday. The company has a 50-day simple moving average of $272.82 and a two-hundred day simple moving average of $248.79. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 1.40 and a beta of 0.41. 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 issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share 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 company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business posted $8.33 EPS. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.56%. RenaissanceRe’s payout ratio is currently 2.25%.

RenaissanceRe 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.