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 the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the transaction, the executive vice president now directly owns 83,044 shares in the company, valued at approximately $22,338,836. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RenaissanceRe Stock Up 0.1 %

Shares of RenaissanceRe stock opened at $269.40 on Monday. The firm has a market cap of $14.05 billion, a PE ratio of 5.95, a P/E/G ratio of 1.44 and a beta of 0.38. The business’s 50 day simple moving average is $246.67 and its 200 day simple moving average is $232.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $271.80.

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

RenaissanceRe Dividend Announcement

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

Institutional Investors Weigh In On RenaissanceRe

Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. grew its position in shares of RenaissanceRe by 1,829.6% during the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after purchasing an additional 1,321,325 shares in the last quarter. Vanguard Group Inc. raised its holdings in RenaissanceRe by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock valued at $1,090,875,000 after acquiring an additional 148,173 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after acquiring an additional 109,851 shares during the period. Impax Asset Management Group plc grew its holdings in shares of RenaissanceRe by 7.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock worth $286,028,000 after purchasing an additional 91,425 shares in the last quarter. Finally, Cooke & Bieler LP increased its position in shares of RenaissanceRe by 9.2% in the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock worth $229,679,000 after purchasing an additional 86,562 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RNR. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Barclays started coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price on the stock. Bank of America upped their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Morgan Stanley lowered their price target on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $272.60.

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.