Renaissance Technologies LLC Sells 36,700 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Renaissance Technologies LLC lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 27.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,582 shares of the insurance provider’s stock after selling 36,700 shares during the period. Renaissance Technologies LLC owned 0.18% of RenaissanceRe worth $21,587,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after acquiring an additional 109,851 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of RenaissanceRe by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 120,129 shares of the insurance provider’s stock valued at $26,850,000 after acquiring an additional 1,606 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of RenaissanceRe by 32.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,528 shares of the insurance provider’s stock valued at $2,800,000 after acquiring an additional 3,074 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of RenaissanceRe by 480.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider’s stock valued at $9,326,000 after acquiring an additional 34,534 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of RenaissanceRe by 19.2% during the 2nd quarter. American Century Companies Inc. now owns 50,291 shares of the insurance provider’s stock valued at $11,241,000 after acquiring an additional 8,083 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated 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 directly owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated 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 directly owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Up 1.0 %

NYSE:RNR opened at $263.67 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $13.75 billion, a PE ratio of 5.81, a PEG ratio of 1.45 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $268.61. The stock has a 50-day simple moving average of $242.00 and a 200 day simple moving average of $230.99.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Citigroup boosted their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group dropped their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $272.60.

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.