ProShare Advisors LLC Cuts Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

ProShare Advisors LLC lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,575 shares of the insurance provider’s stock after selling 1,152 shares during the period. ProShare Advisors LLC owned approximately 0.27% of RenaissanceRe worth $31,867,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RNR. Riverview Trust Co purchased a new position in shares of RenaissanceRe in the 1st quarter valued at $26,000. Blue Trust Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at $27,000. Rise Advisors LLC purchased a new position in shares of RenaissanceRe in the 1st quarter valued at $31,000. V Square Quantitative Management LLC purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at $31,000. Finally, Mather Group LLC. purchased a new position in shares of RenaissanceRe in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of a number of research reports. Citigroup raised their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays assumed coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, July 26th. UBS Group lowered their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus target price of $272.60.

Insider Activity

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

RenaissanceRe Price Performance

Shares of RNR stock opened at $263.67 on Monday. The firm has a market cap of $13.94 billion, a P/E ratio of 5.83, a P/E/G ratio of 1.45 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $268.61. The firm has a fifty day moving average of $242.87 and a two-hundred day moving average of $231.34.

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

RenaissanceRe Dividend Announcement

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

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.