National Bank of Canada FI Sells 5,158 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

National Bank of Canada FI reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 95.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219 shares of the insurance provider’s stock after selling 5,158 shares during the period. National Bank of Canada FI’s holdings in RenaissanceRe were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after acquiring an additional 415,366 shares during the period. Cooke & Bieler LP grew its holdings in RenaissanceRe by 9.2% in the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after buying an additional 86,562 shares during the last quarter. Dimensional Fund Advisors LP increased its position in RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after buying an additional 109,851 shares during the period. Great Lakes Advisors LLC boosted its position in shares of RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock valued at $56,987,000 after acquiring an additional 7,718 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in shares of RenaissanceRe by 12.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider’s stock valued at $50,910,000 after acquiring an additional 25,760 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Down 1.9 %

Shares of NYSE RNR opened at $255.19 on Wednesday. RenaissanceRe Holdings Ltd. has a 52-week low of $190.89 and a 52-week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The business has a fifty day moving average of $272.33 and a two-hundred day moving average of $250.96. The stock has a market cap of $13.25 billion, a PE ratio of 3.68, a PEG ratio of 1.31 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s quarterly revenue was up 52.1% on a year-over-year basis. During the same period last year, the firm posted $8.33 EPS. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup boosted their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays assumed coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $293.00.

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.