Fifth Third Wealth Advisors LLC Sells 447 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fifth Third Wealth Advisors LLC trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the insurance provider’s stock after selling 447 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in RenaissanceRe were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in RenaissanceRe in the first quarter worth about $46,000. Wedge Capital Management L L P NC purchased a new position in RenaissanceRe in the second quarter worth $2,887,000. Intech Investment Management LLC increased its position in shares of RenaissanceRe by 52.9% during the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after purchasing an additional 2,490 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of RenaissanceRe by 741.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock valued at $261,000 after purchasing an additional 979 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in RenaissanceRe during the 1st quarter worth $1,168,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.1 %

RNR opened at $264.30 on Thursday. The company has a fifty day moving average of $268.38 and a two-hundred day moving average of $244.22. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.32 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm posted $8.33 EPS. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on RNR shares. Citigroup increased their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Barclays began coverage on RenaissanceRe in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. Finally, Evercore ISI increased their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $293.00.

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.