Inspire Investing LLC Sells 279 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Inspire Investing LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,466 shares of the insurance provider’s stock after selling 279 shares during the quarter. Inspire Investing LLC’s holdings in RenaissanceRe were worth $775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RNR. American International Group Inc. grew its stake in shares of RenaissanceRe by 1,829.6% during the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after acquiring an additional 1,321,325 shares during the period. Norges Bank bought a new position in shares of RenaissanceRe during the 4th quarter worth $133,196,000. Vanguard Group Inc. grew its stake in shares of RenaissanceRe by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock worth $1,090,875,000 after acquiring an additional 148,173 shares during the period. Bank of New York Mellon Corp grew its stake in shares of RenaissanceRe by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,752,016 shares of the insurance provider’s stock worth $646,806,000 after acquiring an additional 124,039 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in RenaissanceRe by 21.3% in 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 during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $263.67 on Friday. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 5.83, a P/E/G ratio of 1.45 and a beta of 0.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $268.61. The stock’s 50-day moving average is $242.00 and its 200 day moving average is $230.99.

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, beating analysts’ consensus estimates of $10.88 by $1.53. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations 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 anticipate that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued 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 dividend yield of 0.59%. RenaissanceRe’s dividend payout ratio is 3.45%.

Analyst Upgrades and Downgrades

RNR has been the subject of several analyst reports. UBS Group cut their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Morgan Stanley cut their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Bank of America raised their target price on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Barclays started coverage on RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average price target of $272.60.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 directly owns 85,544 shares in the company, valued at $19,675,120. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.