Hancock Whitney Corp Decreases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Hancock Whitney Corp lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,299 shares of the insurance provider’s stock after selling 153 shares during the period. Hancock Whitney Corp’s holdings in RenaissanceRe were worth $2,302,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RNR. American International Group Inc. grew its stake in RenaissanceRe by 1,829.6% in the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after acquiring an additional 1,321,325 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RenaissanceRe by 2.7% in 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 purchasing an additional 148,173 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of RenaissanceRe by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 2,752,016 shares of the insurance provider’s stock valued at $646,806,000 after purchasing an additional 124,039 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $139,579,000 after purchasing an additional 109,851 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of RenaissanceRe by 7.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider’s stock worth $286,028,000 after purchasing an additional 91,425 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Qutub sold 2,500 shares of the firm’s 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 sale, the chief financial officer now directly owns 73,915 shares in the company, valued at approximately $16,598,352.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value 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 approximately $19,675,120. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America raised 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. Citigroup lifted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. UBS Group reduced their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $272.60.

RenaissanceRe Stock Up 1.0 %

Shares of RNR opened at $263.67 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $268.61. The firm has a market cap of $13.75 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $242.87 and its two-hundred day moving average is $231.32.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, topping the consensus estimate of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. Analysts forecast that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Dividend Announcement

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

RenaissanceRe 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.