RenaissanceRe (NYSE:RNR) EVP Sells $1,528,750.00 in Stock

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP Robert Qutub sold 5,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the sale, the executive vice president owned 73,023 shares in the company, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

RenaissanceRe Stock Down 1.3%

Shares of NYSE:RNR traded down $4.10 during trading on Friday, hitting $301.19. 474,810 shares of the company’s stock traded hands, compared to its average volume of 398,552. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $275.31 and a 200-day moving average price of $258.58. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $310.80. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 5.31, a price-to-earnings-growth ratio of 3.14 and a beta of 0.24.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.06 earnings per share. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital World Investors grew its holdings in RenaissanceRe by 0.3% during the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after purchasing an additional 7,839 shares during the period. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after buying an additional 122,732 shares during the last quarter. Lightrock Netherlands B.V. boosted its stake in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of RenaissanceRe by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after acquiring an additional 45,936 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in RenaissanceRe by 17.6% in the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after acquiring an additional 120,063 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNR shares. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of RenaissanceRe in a research note on Friday. Barclays boosted their price objective on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Keefe, Bruyette & Woods raised their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Finally, TD Cowen reiterated a “hold” rating on shares of RenaissanceRe in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $303.33.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.