RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,376 shares of the insurance provider’s stock after selling 487 shares during the period. Crossmark Global Holdings Inc.’s holdings in RenaissanceRe were worth $754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after buying an additional 49 shares during the period. State of Alaska Department of Revenue increased its stake in RenaissanceRe by 0.9% during the 1st 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 during the period. Hilltop National Bank increased its stake in RenaissanceRe by 14.9% during the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock worth $89,000 after buying an additional 52 shares during the period. Steward Partners Investment Advisory LLC increased its stake in RenaissanceRe by 1.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock worth $965,000 after buying an additional 73 shares during the period. Finally, Benedict Financial Advisors Inc. increased its stake in RenaissanceRe by 0.6% during the 1st quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock worth $2,866,000 after buying an additional 77 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the sale, the chief financial officer now owns 73,915 shares in the company, valued at approximately $16,598,352.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Bank of America increased 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. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their price objective on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $263.40.

RenaissanceRe Trading Down 1.0 %

NYSE RNR opened at $254.79 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average price is $230.94 and its 200 day moving average price is $227.78. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 1.32 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12 month low of $183.82 and a 12 month high of $259.23.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 38.92 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s dividend payout ratio is currently 3.45%.

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.