RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,777 shares of the insurance provider’s stock after selling 428 shares during the period. Thrivent Financial for Lutherans’ holdings in RenaissanceRe were worth $2,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. American International Group Inc. increased its holdings in shares of RenaissanceRe by 1,829.6% in the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after acquiring an additional 1,321,325 shares during the last quarter. Vanguard Group Inc. boosted its stake in RenaissanceRe by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock valued at $1,090,875,000 after acquiring an additional 148,173 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after purchasing an additional 109,851 shares during the last quarter. Impax Asset Management Group plc increased its position in RenaissanceRe by 7.7% during the second quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock worth $286,028,000 after buying an additional 91,425 shares during the period. Finally, Cooke & Bieler LP lifted its stake in RenaissanceRe by 9.2% in the second 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. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were 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 directly owns 85,544 shares in the company, valued at $19,675,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Qutub sold 2,500 shares of the business’s 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 sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock valued at $1,060,400. Insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.1 %

Shares of RenaissanceRe stock opened at $269.40 on Monday. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $271.80. The company has a market capitalization of $14.05 billion, a P/E ratio of 5.95, a P/E/G ratio of 1.44 and a beta of 0.38. The business has a 50 day moving average price of $246.67 and a 200 day moving average price of $232.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.88 by $1.53. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.58%. RenaissanceRe’s payout ratio is currently 3.45%.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of recent research reports. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. UBS Group lowered their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Bank of America lifted their target price on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Citigroup increased their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $272.60.

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.