Mutual of America Capital Management LLC Trims Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mutual of America Capital Management LLC cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,276 shares of the insurance provider’s stock after selling 1,119 shares during the period. Mutual of America Capital Management LLC owned 0.06% of RenaissanceRe worth $6,767,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RNR. Riverview Trust Co purchased a new position in shares of RenaissanceRe in the 1st quarter valued at approximately $26,000. Blue Trust Inc. bought a new position in RenaissanceRe in the second quarter worth $27,000. Rise Advisors LLC purchased a new position in RenaissanceRe during the first quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe during the 2nd quarter valued at $31,000. Finally, Mather Group LLC. bought a new stake in shares of RenaissanceRe during the 1st quarter valued at $34,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Down 0.8 %

Shares of NYSE:RNR opened at $260.96 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $268.61. The stock’s fifty day moving average price is $241.14 and its 200-day moving average price is $230.78. The company has a market cap of $13.61 billion, a P/E ratio of 5.77, a PEG ratio of 1.45 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

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

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNR shares. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. 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 report on Thursday, July 25th. Morgan Stanley reduced their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. UBS Group cut their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $272.60.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on 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 directly 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 accessible through this link. In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 approximately $16,598,352.40. The disclosure for this sale can be found here. 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.