Signaturefd LLC Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Signaturefd LLC decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 27.6% during the second quarter, HoldingsChannel.com reports. The firm owned 305 shares of the insurance provider’s stock after selling 116 shares during the period. Signaturefd LLC’s holdings in RenaissanceRe were worth $68,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of RenaissanceRe in the second quarter valued at approximately $5,121,000. Industrial Alliance Investment Management Inc. bought a new position in RenaissanceRe in the 2nd quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RenaissanceRe by 2.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,948 shares of the insurance provider’s stock valued at $2,447,000 after purchasing an additional 295 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of RenaissanceRe by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 12,761 shares of the insurance provider’s stock valued at $2,852,000 after purchasing an additional 456 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of RenaissanceRe by 4.8% in the second quarter. Whittier Trust Co. now owns 23,709 shares of the insurance provider’s stock worth $5,299,000 after purchasing an additional 1,095 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $259.04 on Thursday. The firm has a fifty day simple moving average of $232.73 and a two-hundred day simple moving average of $228.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a twelve month low of $186.45 and a twelve month high of $260.97. The company has a market capitalization of $13.70 billion, a PE ratio of 5.72, a P/E/G ratio of 1.39 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Insider Transactions at RenaissanceRe

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price 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. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, Bank of America lifted their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $263.40.

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.