RenaissanceRe (NYSE:RNR) EVP Robert Qutub Sells 5,000 Shares of Stock

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

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $301.19 on Friday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 0.76 and a beta of 0.24. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $310.80. The business has a fifty day simple moving average of $276.11 and a 200 day simple moving average of $259.06. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $8.06 EPS. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

Institutional Trading of RenaissanceRe

Several large investors have recently made changes to their positions in RNR. Capital World Investors raised its holdings in shares of RenaissanceRe by 0.3% in the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock valued at $672,792,000 after buying an additional 7,839 shares during the last quarter. Impax Asset Management Group plc increased its position in RenaissanceRe by 11.2% in the 2nd quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after acquiring an additional 122,732 shares in the last quarter. Lightrock Netherlands B.V. raised its stake in shares of RenaissanceRe by 4,690.1% in the fourth 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of RenaissanceRe by 4.8% in the third 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 lifted its position in shares of RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after purchasing an additional 120,063 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RNR shares. Zacks Research cut shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Wells Fargo & Company increased their target price on RenaissanceRe from $281.00 to $306.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $267.00 price target on shares of RenaissanceRe in a research note on Wednesday, January 7th. Evercore increased their price objective on RenaissanceRe from $283.00 to $291.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $303.00 price objective on shares of RenaissanceRe in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $303.33.

RenaissanceRe Company Profile

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.