RenaissanceRe Holdings Ltd. (NYSE:RNR) SVP Ian D. Branagan sold 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $170.00, for a total transaction of $340,000.00. Following the completion of the sale, the senior vice president now directly owns 48,617 shares in the company, valued at $8,264,890. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NYSE:RNR traded down $0.92 during trading on Friday, reaching $169.52. 244,510 shares of the company were exchanged, compared to its average volume of 244,040. The firm has a market cap of $7.37 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. RenaissanceRe Holdings Ltd. has a 12-month low of $117.35 and a 12-month high of $170.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.49 and a current ratio of 1.49.
RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $3.60 EPS for the quarter, topping the Zacks’ consensus estimate of $3.20 by $0.40. The business had revenue of $929.00 million for the quarter, compared to analyst estimates of $738.70 million. RenaissanceRe had a net margin of 18.18% and a return on equity of 9.25%. The company’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period last year, the company posted $1.42 earnings per share. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 12.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, June 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 14.83%.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of RenaissanceRe by 7.9% during the first quarter. BlackRock Inc. now owns 5,283,466 shares of the insurance provider’s stock valued at $758,178,000 after purchasing an additional 384,867 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of RenaissanceRe by 1.5% during the third quarter. Vanguard Group Inc now owns 4,103,600 shares of the insurance provider’s stock valued at $548,159,000 after purchasing an additional 59,867 shares in the last quarter. Boston Partners boosted its stake in shares of RenaissanceRe by 144.6% during the fourth quarter. Boston Partners now owns 1,340,903 shares of the insurance provider’s stock valued at $179,279,000 after purchasing an additional 792,675 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of RenaissanceRe by 23.2% during the first quarter. Victory Capital Management Inc. now owns 885,230 shares of the insurance provider’s stock valued at $127,031,000 after purchasing an additional 166,575 shares in the last quarter. Finally, Polar Capital LLP boosted its stake in shares of RenaissanceRe by 1.9% during the fourth quarter. Polar Capital LLP now owns 519,650 shares of the insurance provider’s stock valued at $69,477,000 after purchasing an additional 9,650 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on RNR. Barclays increased their price objective on shares of RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, April 1st. ValuEngine raised shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Monday, April 1st. UBS Group raised their target price on shares of RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank raised their target price on shares of RenaissanceRe from $167.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $149.09.
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RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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