Whittier Trust Co. of Nevada Inc. Acquires 401 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Whittier Trust Co. of Nevada Inc. grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,162 shares of the insurance provider’s stock after purchasing an additional 401 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in RenaissanceRe were worth $3,585,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of RenaissanceRe in the 1st quarter valued at about $26,000. Blue Trust Inc. bought a new position in shares of RenaissanceRe during the second quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $30,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe during the 2nd quarter worth $31,000. Finally, Mather Group LLC. bought a new position in RenaissanceRe during the first quarter worth about $34,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RNR shares. Morgan Stanley lowered their price target on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group increased their price objective on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup lifted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $267.00 to $274.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $278.75 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $14.54 billion, a P/E ratio of 5.51, a P/E/G ratio of 1.85 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $284.36. The stock has a 50 day moving average of $260.37 and a 200-day moving average of $236.75.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 annualized dividend and a dividend yield of 0.56%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.08%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now owns 83,044 shares in the company, valued at approximately $22,338,836. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,500 shares of company stock worth $1,109,400. Company insiders own 1.30% of the company’s stock.

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.