UMB Bank n.a. Purchases 95 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

UMB Bank n.a. lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 316.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125 shares of the insurance provider’s stock after purchasing an additional 95 shares during the period. UMB Bank n.a.’s holdings in RenaissanceRe were worth $34,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of RenaissanceRe by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock worth $1,090,875,000 after buying an additional 148,173 shares during the last quarter. CWM LLC grew its position in shares of RenaissanceRe by 8.7% in the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after buying an additional 49 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of RenaissanceRe in the 1st quarter worth approximately $553,000. GAMMA Investing LLC grew its position in shares of RenaissanceRe by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the insurance provider’s stock worth $68,000 after buying an additional 100 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of RenaissanceRe in the 1st quarter worth approximately $34,000. 99.97% of the stock is owned by institutional investors.

Insider Activity at RenaissanceRe

In other news, CFO Robert Qutub sold 2,500 shares of the firm’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 value of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. This trade represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,500 shares of company stock valued at $1,109,400. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $274.50 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $283.86. The stock has a 50-day moving average price of $257.49 and a 200 day moving average price of $235.72. The stock has a market capitalization of $14.32 billion, a P/E ratio of 5.43, a P/E/G ratio of 1.68 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS 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 company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.68 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 yield of 0.57%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s payout ratio is presently 3.08%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RNR. UBS Group cut their price objective on 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 price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI raised their target price on RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded RenaissanceRe from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $289.00.

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.