By otakuyassine3@gmail.com 
RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Free Report) EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
RenaissanceRe Trading Up 1.9 %
NYSE RNR traded up $4.76 during trading on Wednesday, reaching $255.90. 589,725 shares of the stock traded hands, compared to its average volume of 489,292. The stock’s 50-day moving average price is $263.16 and its 200 day moving average price is $254.54. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 3.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a fifty-two week low of $203.35 and a fifty-two week high of $300.00.
RenaissanceRe (NYSE:RNR – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.33 EPS. Analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.
RenaissanceRe Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.
Analysts Set New Price Targets
Several brokerages have issued reports on RNR. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI boosted their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Bank of America increased their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $284.00.
Get Our Latest Stock Report on RenaissanceRe
Hedge Funds Weigh In On RenaissanceRe
Several institutional investors and hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC bought a new position in RenaissanceRe in the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in RenaissanceRe in the 3rd quarter valued at $45,000. V Square Quantitative Management LLC boosted its stake in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in RenaissanceRe by 19.8% during the 2nd 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. 99.97% of the stock is currently owned by institutional investors and hedge funds.
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.
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