David E. Marra Sells 1,000 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $269.40 on Friday. 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 market cap of $14.05 billion, a PE ratio of 5.95, a P/E/G ratio of 1.44 and a beta of 0.38. The stock has a fifty day moving average price of $246.67 and a 200 day moving average price of $232.52. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $271.80.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Citigroup boosted their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, UBS Group decreased their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. One equities research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $272.60.

Institutional Investors Weigh In On RenaissanceRe

Several institutional investors have recently made changes to their positions in RNR. Riverview Trust Co purchased a new stake in RenaissanceRe during the first quarter worth about $26,000. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe during the 2nd quarter valued at approximately $27,000. Rise Advisors LLC purchased a new stake in shares of RenaissanceRe during the 1st quarter worth approximately $31,000. V Square Quantitative Management LLC acquired a new stake in shares of RenaissanceRe in the 2nd quarter worth approximately $31,000. Finally, Mather Group LLC. purchased a new position in RenaissanceRe in the 1st quarter valued at approximately $34,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

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.