Thrivent Financial for Lutherans Trims Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Thrivent Financial for Lutherans lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,253 shares of the insurance provider’s stock after selling 524 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RenaissanceRe were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. EntryPoint Capital LLC bought a new stake in RenaissanceRe during the first quarter valued at about $46,000. Wedge Capital Management L L P NC bought a new position in shares of RenaissanceRe during the 2nd quarter valued at approximately $2,887,000. Intech Investment Management LLC increased its holdings in RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after acquiring an additional 2,490 shares in the last quarter. Acadian Asset Management LLC raised its stake in RenaissanceRe by 741.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock worth $261,000 after acquiring an additional 979 shares during the period. Finally, Atria Investments Inc purchased a new position in RenaissanceRe during the first quarter valued at approximately $1,168,000. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of several recent analyst reports. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Bank of America upped their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays assumed coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. Finally, Jefferies Financial Group upped their price target on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $293.00.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the completion of the transaction, the executive vice president now owns 83,044 shares in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $279.51 on Tuesday. The company’s 50-day moving average price is $269.13 and its 200-day moving average price is $245.35. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a market cap of $14.52 billion, a PE ratio of 4.03, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the business posted $8.33 earnings per share. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

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.