David E. Marra Sells 1,000 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP David E. Marra sold 1,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

RenaissanceRe Trading Up 0.1 %

Shares of RNR traded up $0.31 during trading hours on Friday, hitting $269.40. The company had a trading volume of 314,680 shares, compared to its average volume of 331,200. The stock’s 50 day moving average price is $245.79 and its 200 day moving average price is $232.31. 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 52-week low of $188.24 and a 52-week high of $271.80. The firm has a market cap of $14.25 billion, a P/E ratio of 5.96, a P/E/G ratio of 1.45 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data 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. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is 3.45%.

Institutional Trading of RenaissanceRe

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in RenaissanceRe by 19.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after buying an additional 45 shares during the period. CWM LLC boosted its holdings in RenaissanceRe by 8.7% in the first quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 49 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in RenaissanceRe by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after acquiring an additional 50 shares in the last quarter. Hilltop National Bank increased its position in RenaissanceRe by 14.9% during the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 52 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in RenaissanceRe by 23.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 64 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RNR. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Barclays initiated coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective for the company. UBS Group reduced their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup lifted their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $272.60.

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.