RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,751,933 shares of the insurance provider’s stock after selling 77,055 shares during the period. Price T Rowe Associates Inc. MD’s holdings in RenaissanceRe were worth $411,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RNR. American International Group Inc. grew its holdings in RenaissanceRe by 1,829.6% in the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after purchasing an additional 1,321,325 shares during the period. Norges Bank purchased a new position in shares of RenaissanceRe in the 4th quarter worth $133,196,000. Cooke & Bieler LP raised its position in shares of RenaissanceRe by 97.9% in the 4th quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock worth $213,440,000 after buying an additional 538,636 shares during the period. Fiera Capital Corp boosted its holdings in RenaissanceRe by 637.3% in the fourth quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider’s stock valued at $39,037,000 after acquiring an additional 172,154 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in RenaissanceRe by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock valued at $1,090,875,000 after acquiring an additional 148,173 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RNR shares. UBS Group dropped their target price on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley cut their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI increased their target price on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, Bank of America boosted their price target on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $263.40.

RenaissanceRe Stock Up 0.1 %

NYSE RNR traded up $0.23 during trading hours on Monday, reaching $224.73. 41,644 shares of the company traded hands, compared to its average volume of 339,820. The stock has a market capitalization of $11.88 billion, a PE ratio of 4.96, a PEG ratio of 1.26 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42. The company has a 50 day moving average of $223.97 and a two-hundred day moving average of $223.80. 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 (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The firm’s revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the company earned $8.16 earnings per share. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 37.43 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe’s payout ratio is currently 3.45%.

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.