Wellington Management Group LLP Decreases Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Wellington Management Group LLP decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 44.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 745 shares of the insurance provider’s stock after selling 598 shares during the period. Wellington Management Group LLP’s holdings in RenaissanceRe were worth $203,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in RenaissanceRe during the 3rd quarter valued at approximately $30,000. Blue Trust Inc. purchased a new position in shares of RenaissanceRe in the second quarter valued at $27,000. UMB Bank n.a. increased its position in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in RenaissanceRe during the third quarter valued at $45,000. Finally, V Square Quantitative Management LLC lifted its position in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Up 0.4 %

NYSE:RNR opened at $249.37 on Friday. The stock has a fifty day simple moving average of $270.56 and a 200-day simple moving average of $251.05. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a twelve month low of $190.89 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s quarterly revenue was up 52.1% on a year-over-year basis. During the same period in the previous year, the company earned $8.33 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed 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 is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.63%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup boosted their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Bank of America raised their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus price target of $290.09.

RenaissanceRe Company Profile

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.