Leuthold Group LLC Lowers Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Leuthold Group LLC lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,309 shares of the insurance provider’s stock after selling 1,007 shares during the period. Leuthold Group LLC owned approximately 0.06% of RenaissanceRe worth $8,256,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RNR. EntryPoint Capital LLC purchased a new stake in RenaissanceRe in the 1st quarter valued at approximately $46,000. Wedge Capital Management L L P NC acquired a new position in RenaissanceRe during the second quarter worth $2,887,000. Russell Investments Group Ltd. raised its position in RenaissanceRe by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after acquiring an additional 3,962 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of RenaissanceRe during the 1st quarter worth $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of RenaissanceRe by 47.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock worth $5,815,000 after purchasing an additional 7,975 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $260.01 on Monday. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.38. 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 stock’s fifty day simple moving average is $264.11 and its 200-day simple moving average is $238.57.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued 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 0.60%. RenaissanceRe’s payout ratio is currently 3.45%.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Morgan Stanley dropped their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. UBS Group cut their price objective on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company increased their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One investment 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, the stock currently has a consensus rating of “Hold” and an average price target of $289.00.

About RenaissanceRe

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.