RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,773 shares of the insurance provider’s stock after selling 1,944 shares during the quarter. Glenmede Trust Co. NA’s holdings in RenaissanceRe were worth $6,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RNR. Blue Trust Inc. purchased a new position in RenaissanceRe in the second quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at about $31,000. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in RenaissanceRe in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RNR. Bank of America boosted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Citigroup boosted their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.00.

RenaissanceRe Stock Performance

Shares of RNR opened at $286.15 on Friday. The company’s 50 day simple moving average is $270.45 and its 200-day simple moving average is $246.30. The firm has a market cap of $14.86 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) 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 26.31%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm posted $8.33 EPS. RenaissanceRe’s revenue for the quarter was up 52.1% on a year-over-year basis. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. RenaissanceRe’s payout ratio is 2.25%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

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.