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 business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

RenaissanceRe Stock Performance

RenaissanceRe stock traded up $5.71 during midday trading on Friday, reaching $279.58. 256,812 shares of the company’s stock were exchanged, compared to its average volume of 329,679. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $250.67 and its 200 day simple moving average is $233.57. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 1.47 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $279.76.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, topping 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 business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RNR. EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe in the first quarter valued at approximately $46,000. Royal London Asset Management Ltd. increased its position in RenaissanceRe by 38.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock worth $4,863,000 after buying an additional 6,874 shares during the period. American International Group Inc. lifted its holdings in shares of RenaissanceRe by 1,829.6% during the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after buying an additional 1,321,325 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of RenaissanceRe in the second quarter valued at about $2,887,000. Finally, Russell Investments Group Ltd. grew its stake in shares of RenaissanceRe by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock valued at $6,451,000 after acquiring an additional 3,962 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the subject of several recent research reports. UBS Group reduced their price objective on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Bank of America raised their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company cut their price objective on shares of 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 reduced their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.