Orion Portfolio Solutions LLC Sells 197 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Orion Portfolio Solutions LLC decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,458 shares of the insurance provider’s stock after selling 197 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in RenaissanceRe were worth $1,487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. bought a new position in shares of RenaissanceRe during the 2nd quarter worth approximately $27,000. UMB Bank n.a. raised its holdings in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe in the third quarter worth $45,000. Finally, V Square Quantitative Management LLC boosted its holdings 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 purchasing an additional 41 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays initiated coverage on RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. Jefferies Financial Group raised their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company raised their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.00.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

RenaissanceRe Stock Down 0.0 %

Shares of RNR opened at $267.82 on Friday. The firm’s 50-day simple moving average is $272.33 and its 200 day simple moving average is $250.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $13.91 billion, a P/E ratio of 3.86, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.33 earnings per share. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.