Leuthold Group LLC Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Leuthold Group LLC lowered its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,316 shares of the insurance provider’s stock after selling 280 shares during the quarter. Leuthold Group LLC owned approximately 0.06% of RenaissanceRe worth $6,999,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. MQS Management LLC boosted its holdings in shares of RenaissanceRe by 107.8% during the 2nd quarter. MQS Management LLC now owns 2,196 shares of the insurance provider’s stock valued at $491,000 after purchasing an additional 1,139 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of RenaissanceRe by 360.8% in the 2nd quarter. XTX Topco Ltd now owns 5,442 shares of the insurance provider’s stock valued at $1,216,000 after purchasing an additional 4,261 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of RenaissanceRe by 12.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,072 shares of the insurance provider’s stock worth $910,000 after purchasing an additional 439 shares during the period. Amalgamated Bank increased its position in shares of RenaissanceRe by 13.7% during the 2nd quarter. Amalgamated Bank now owns 32,958 shares of the insurance provider’s stock valued at $7,366,000 after purchasing an additional 3,977 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock valued at $139,579,000 after purchasing an additional 109,851 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $262.78 on Thursday. The company has a 50-day moving average price of $240.27 and a 200 day moving average price of $230.55. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $268.61. 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 stock has a market cap of $13.90 billion, a P/E ratio of 5.81, a PEG ratio of 1.39 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating the consensus estimate of $10.88 by $1.53. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s payout ratio is currently 3.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RNR shares. Morgan Stanley dropped their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Citigroup lifted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Bank of America raised their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company reduced their target price on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average price target of $272.60.

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.