First Trust Direct Indexing L.P. Cuts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Trust Direct Indexing L.P. lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,163 shares of the insurance provider’s stock after selling 55 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in RenaissanceRe were worth $862,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC raised its position in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of RenaissanceRe by 19.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after buying an additional 45 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after buying an additional 47 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in RenaissanceRe by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after buying an additional 50 shares in the last quarter. Finally, Hilltop National Bank grew its position in RenaissanceRe by 14.9% during the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after acquiring an additional 52 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on 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 directly owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RNR shares. Evercore ISI upped their price objective on shares of RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. UBS Group decreased their price objective on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group increased their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $289.00.

RenaissanceRe Price Performance

Shares of RNR stock opened at $264.07 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $13.77 billion, a P/E ratio of 5.22, a P/E/G ratio of 1.75 and a beta of 0.38. The business’s 50 day moving average price is $266.06 and its 200-day moving average price is $240.01. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $284.36.

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.