RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,526 shares of the insurance provider’s stock after selling 803 shares during the period. Royal London Asset Management Ltd.’s holdings in RenaissanceRe were worth $6,953,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its stake in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of RenaissanceRe by 19.8% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 45 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of RenaissanceRe by 4.6% in the third quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after buying an additional 47 shares during the period. CIBC Asset Management Inc raised its holdings in shares of RenaissanceRe by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock valued at $417,000 after buying an additional 53 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of RenaissanceRe by 23.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 64 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 2.6 %

Shares of RenaissanceRe stock opened at $279.66 on Monday. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00. The company has a market capitalization of $14.53 billion, a P/E ratio of 4.03, a PEG ratio of 1.39 and a beta of 0.41. The business’s fifty day moving average price is $272.82 and its two-hundred day moving average price is $249.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping the consensus estimate of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.33 earnings per share. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.56%. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’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 of the company’s stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RNR has been the topic of a number of analyst reports. Citigroup lifted their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upped their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Bank of America upped their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Evercore ISI lifted their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $293.00.

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.