RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,834 shares of the insurance provider’s stock after selling 49 shares during the quarter. Shell Asset Management Co.’s holdings in RenaissanceRe were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in RenaissanceRe by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,314 shares of the insurance provider’s stock valued at $64,188,000 after purchasing an additional 6,130 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in RenaissanceRe during the 3rd quarter valued at approximately $388,000. Swiss National Bank grew its stake in RenaissanceRe by 3.3% during the 3rd quarter. Swiss National Bank now owns 112,500 shares of the insurance provider’s stock valued at $22,266,000 after purchasing an additional 3,600 shares in the last quarter. Amalgamated Bank grew its stake in RenaissanceRe by 4.7% during the 3rd quarter. Amalgamated Bank now owns 34,876 shares of the insurance provider’s stock valued at $6,903,000 after purchasing an additional 1,556 shares in the last quarter. Finally, New York Life Investment Management LLC grew its stake in RenaissanceRe by 144.6% during the 3rd quarter. New York Life Investment Management LLC now owns 5,268 shares of the insurance provider’s stock valued at $1,043,000 after purchasing an additional 3,114 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total transaction of $209,050.00. Following the sale, the executive vice president now owns 80,449 shares of the company’s stock, valued at approximately $16,817,863.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total value of $209,050.00. Following the sale, the executive vice president now directly owns 80,449 shares in the company, valued at approximately $16,817,863.45. The disclosure for this sale can be found here. Insiders have sold 4,250 shares of company stock valued at $967,200 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Down 0.3 %

Shares of NYSE RNR opened at $225.94 on Friday. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 4.41, a price-to-earnings-growth ratio of 2.55 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $235.14. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $206.64 and its 200 day simple moving average is $203.23.

RenaissanceRe (NYSE:RNRGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.13 by $3.64. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $7.33 EPS. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 34.17 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.69%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s payout ratio is presently 2.97%.

Analyst Upgrades and Downgrades

RNR has been the subject of several research reports. Citigroup initiated coverage on RenaissanceRe in a research report on Wednesday, November 22nd. They issued a “buy” rating and a $251.00 target price for the company. BMO Capital Markets lifted their target price on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Cowen initiated coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating for the company. Evercore ISI initiated coverage on RenaissanceRe in a research report on Thursday, December 14th. They issued an “underperform” rating and a $200.00 target price for the company. Finally, TheStreet upgraded RenaissanceRe from a “c” rating to a “b-” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $240.90.

Read Our Latest Stock Analysis on RNR

About RenaissanceRe

(Free Report)

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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