First Citizens Bank & Trust Co. Increases Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Citizens Bank & Trust Co. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073 shares of the insurance provider’s stock after buying an additional 47 shares during the period. First Citizens Bank & Trust Co.’s holdings in RenaissanceRe were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at approximately $46,000. Wedge Capital Management L L P NC purchased a new position in shares of RenaissanceRe during the 2nd quarter valued at approximately $2,887,000. Russell Investments Group Ltd. lifted its position in shares of RenaissanceRe by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock valued at $6,451,000 after buying an additional 3,962 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at approximately $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in RenaissanceRe by 47.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock valued at $5,815,000 after purchasing an additional 7,975 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 completion of the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction dated 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 transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock valued at $1,109,400 in the last three months. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RNR shares. Bank of America raised their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com upgraded RenaissanceRe from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Barclays started coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective on the stock. Finally, Citigroup raised their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Down 0.3 %

NYSE RNR opened at $282.60 on Monday. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $283.86. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $260.37 and its 200-day simple moving average is $236.71. The firm has a market cap of $14.94 billion, a PE ratio of 6.24, a P/E/G ratio of 1.83 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.84 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, September 13th. RenaissanceRe’s dividend payout ratio is currently 3.45%.

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.