RenaissanceRe (NYSE:RNR) EVP Sells 5,000 Shares

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

RenaissanceRe Stock Up 1.8%

RenaissanceRe stock traded up $5.76 during midday trading on Tuesday, hitting $334.63. The stock had a trading volume of 469,240 shares, compared to its average volume of 370,884. 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 $14.27 billion, a P/E ratio of 5.74, a P/E/G ratio of 1.24 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $335.88. The business has a fifty day moving average price of $305.71 and a 200 day moving average price of $298.97.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 EPS for the quarter, topping analysts’ consensus estimates of $11.72 by $1.20. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.57 billion. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.During the same quarter last year, the business posted $12.29 EPS. Research analysts predict that RenaissanceRe Holdings Ltd. will post 41.08 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 15th. RenaissanceRe’s dividend payout ratio is currently 2.81%.

Analyst Ratings Changes

A number of research firms have commented on RNR. Citigroup raised shares of RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $335.00 to $345.00 in a report on Wednesday, June 10th. Wells Fargo & Company raised their price target on shares of RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group set a $349.00 price objective on shares of RenaissanceRe and gave the company a “neutral” rating in a research report on Monday. Finally, Barclays increased their price objective on shares of RenaissanceRe from $328.00 to $341.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $336.33.

Institutional Investors Weigh In On RenaissanceRe

Several large investors have recently added to or reduced their stakes in RNR. Kingdom Financial Group LLC. bought a new stake in RenaissanceRe in the fourth quarter valued at $36,000. Quarry LP boosted its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe in the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.