RenaissanceRe Holdings Ltd. (NYSE:RNR) Position Lessened by Polianta Ltd

Polianta Ltd lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 20.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the insurance provider’s stock after selling 1,100 shares during the quarter. Polianta Ltd’s holdings in RenaissanceRe were worth $1,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CHICAGO TRUST Co NA grew its position in shares of RenaissanceRe by 2.6% during the third quarter. CHICAGO TRUST Co NA now owns 6,470 shares of the insurance provider’s stock worth $1,762,000 after acquiring an additional 166 shares during the last quarter. Carnegie Investment Counsel bought a new position in RenaissanceRe in the 3rd quarter worth about $218,000. Simplicity Wealth LLC increased its stake in shares of RenaissanceRe by 65.1% in the third quarter. Simplicity Wealth LLC now owns 1,986 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 783 shares during the period. TAP Consulting LLC raised its holdings in shares of RenaissanceRe by 5.4% during the third quarter. TAP Consulting LLC now owns 12,127 shares of the insurance provider’s stock valued at $3,303,000 after buying an additional 620 shares during the last quarter. Finally, UMB Bank n.a. boosted its position 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. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Price Performance

RNR stock opened at $275.55 on Monday. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $283.86. The firm has a 50-day moving average of $255.54 and a two-hundred day moving average of $235.14. The firm has a market capitalization of $14.37 billion, a PE ratio of 5.45, a P/E/G ratio of 1.68 and a beta of 0.38. 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 (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, topping the consensus estimate of $10.88 by $1.53. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 40.68 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.08%.

Insiders Place Their Bets

In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares in the company, valued at approximately $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares in the company, valued at approximately $16,598,352.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the 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 completion of the sale, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock valued at $1,339,400 in the last three months. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target 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. Barclays initiated coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target for the company. UBS Group cut their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup boosted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.