Cwm LLC Has $188,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cwm LLC lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 692 shares of the insurance provider’s stock after selling 91 shares during the quarter. Cwm LLC’s holdings in RenaissanceRe were worth $188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Riverview Trust Co acquired a new position in shares of RenaissanceRe during the 1st quarter worth about $26,000. Blue Trust Inc. acquired a new stake in RenaissanceRe in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of RenaissanceRe during the second quarter valued at about $31,000. EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe during the first quarter worth $46,000. Finally, American National Bank bought a new stake in shares of RenaissanceRe in the 2nd quarter valued at about $49,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of RNR stock opened at $275.09 on Thursday. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $284.36. The stock has a market cap of $14.35 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 1.85 and a beta of 0.38. The business’s fifty day moving average is $262.12 and its 200 day moving average is $237.51. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

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 analysts’ consensus estimates 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%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. RenaissanceRe’s dividend payout ratio is currently 3.08%.

Insider Activity at RenaissanceRe

In other news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was 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 owns 73,915 shares of the company’s stock, valued at $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David E. Marra sold 1,000 shares of the stock in a transaction 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 of the company’s stock, valued at $22,890,276. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,500 shares of company stock worth $1,109,400. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wells Fargo & Company upped their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $267.00 to $274.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Barclays started coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $289.00.

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.