RenaissanceRe Holdings Ltd. (RNR) SVP Ian D. Branagan Sells 2,000 Shares

RenaissanceRe Holdings Ltd. (NYSE:RNR) SVP Ian D. Branagan sold 2,000 shares of RenaissanceRe stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $153.00, for a total value of $306,000.00. Following the completion of the transaction, the senior vice president now directly owns 52,617 shares in the company, valued at $8,050,401. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

RenaissanceRe stock opened at $154.35 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.43 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.39 and a beta of 0.49. RenaissanceRe Holdings Ltd. has a one year low of $117.35 and a one year high of $152.80.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.93) by $1.95. The business had revenue of $633.44 million during the quarter, compared to the consensus estimate of $545.60 million. RenaissanceRe had a return on equity of 9.18% and a net margin of 10.96%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 11.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.34 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, March 14th. RenaissanceRe’s payout ratio is presently 14.83%.

A number of equities analysts recently commented on the company. ValuEngine lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research raised RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Monday, April 1st. UBS Group lifted their price objective on RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $130.00 to $125.00 in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $125.00 price objective on shares of RenaissanceRe in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $146.36.

Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC bought a new stake in RenaissanceRe in the fourth quarter worth approximately $30,000. JOYN Advisors Inc. increased its holdings in RenaissanceRe by 63.9% in the fourth quarter. JOYN Advisors Inc. now owns 241 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 94 shares in the last quarter. First Mercantile Trust Co. increased its holdings in RenaissanceRe by 52.6% in the fourth quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in RenaissanceRe by 65.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 322 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in RenaissanceRe by 333.3% in the fourth quarter. AdvisorNet Financial Inc now owns 650 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 95.72% of the company’s stock.

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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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