Bleakley Financial Group LLC Sells 52 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bleakley Financial Group LLC cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,151 shares of the insurance provider’s stock after selling 52 shares during the quarter. Bleakley Financial Group LLC’s holdings in RenaissanceRe were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $30,000. Riverview Trust Co acquired a new position in RenaissanceRe in the first quarter worth about $26,000. Blue Trust Inc. bought a new position in RenaissanceRe during the second quarter worth about $27,000. UMB Bank n.a. boosted its holdings in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe in the 2nd quarter valued at approximately $31,000. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RNR. Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price for the company. UBS Group reduced their target price 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. upped their target price on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI upped their price objective on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $289.00.

Insider Activity

In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were 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 in the company, valued at $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other RenaissanceRe news, 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 value of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,500 shares of company stock valued at $1,109,400. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Stock Performance

RNR stock opened at $275.09 on Thursday. The stock has a market capitalization of $14.35 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 1.85 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. The company has a 50 day moving average price of $262.12 and a 200 day moving average price of $237.51. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $284.36.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.88 by $1.53. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Analysts forecast that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current 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 given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. RenaissanceRe’s payout ratio is presently 3.08%.

About RenaissanceRe

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.