Middleton & Co. Inc. MA Sells 775 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Middleton & Co. Inc. MA reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,019 shares of the insurance provider’s stock after selling 775 shares during the quarter. Middleton & Co. Inc. MA’s holdings in RenaissanceRe were worth $4,091,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RNR. Blue Trust Inc. acquired a new stake in RenaissanceRe in the second quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of RenaissanceRe during the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in shares of RenaissanceRe in the second quarter worth approximately $31,000. UMB Bank n.a. boosted its holdings in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in RenaissanceRe during the 1st quarter valued at approximately $46,000. Institutional investors own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the transaction, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RNR shares. Jefferies Financial Group boosted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America increased their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lowered their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Citigroup increased their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group dropped their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $289.00.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $268.36 on Friday. 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 Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $284.36. The company has a market cap of $14.19 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.38. The business has a 50 day moving average price of $264.11 and a 200-day moving average price of $238.33.

RenaissanceRe (NYSE:RNR) last posted 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%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.96 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. 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.