Amalgamated Bank Lowers Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Amalgamated Bank trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,798 shares of the insurance provider’s stock after selling 8,160 shares during the quarter. Amalgamated Bank’s holdings in RenaissanceRe were worth $6,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $46,000. Wedge Capital Management L L P NC purchased a new position in shares of RenaissanceRe in the second quarter valued at about $2,887,000. Russell Investments Group Ltd. grew its position in shares of RenaissanceRe by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after purchasing an additional 3,962 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in RenaissanceRe in the 1st quarter worth approximately $744,000. Finally, Intech Investment Management LLC boosted its holdings in shares of RenaissanceRe by 52.9% during the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock valued at $1,608,000 after purchasing an additional 2,490 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 82,044 shares in the company, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RNR shares. Citigroup boosted their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 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 research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $277.73 on Thursday. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $284.36. The stock’s fifty day moving average price is $266.76 and its 200-day moving average price is $240.97. The firm has a market cap of $14.49 billion, a P/E ratio of 5.32, a P/E/G ratio of 1.74 and a beta of 0.39. 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 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.