Fiera Capital Corp Sells 6,089 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fiera Capital Corp decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 194,552 shares of the insurance provider’s stock after selling 6,089 shares during the quarter. Fiera Capital Corp’s holdings in RenaissanceRe were worth $52,996,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of RenaissanceRe during the first quarter worth approximately $46,000. Wedge Capital Management L L P NC acquired a new position in RenaissanceRe in the second quarter worth $2,887,000. Russell Investments Group Ltd. grew its holdings 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 during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of RenaissanceRe in the first quarter valued at $744,000. Finally, Intech Investment Management LLC raised its holdings in shares of RenaissanceRe by 52.9% in the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock valued at $1,608,000 after buying an additional 2,490 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays began coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective for the company. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $291.30.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. 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 this hyperlink. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Trading Up 0.8 %

Shares of RNR stock traded up $2.00 on Friday, reaching $267.81. The company had a trading volume of 161,696 shares, compared to its average volume of 347,684. The stock has a market cap of $13.97 billion, a PE ratio of 3.84, a PEG ratio of 1.82 and a beta of 0.39. The company has a 50-day moving average of $267.36 and a 200-day moving average of $241.40. 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 12 month low of $188.24 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 27.34%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $8.33 earnings per share. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 39.96 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.25%.

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.