RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,947 shares of the insurance provider’s stock after selling 267 shares during the period. Federated Hermes Inc.’s holdings in RenaissanceRe were worth $1,106,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in RenaissanceRe in the 1st quarter worth about $26,000. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe in the second quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in shares of RenaissanceRe during the 1st quarter worth approximately $31,000. V Square Quantitative Management LLC purchased a new position in shares of RenaissanceRe during the 2nd quarter valued at approximately $31,000. Finally, Mather Group LLC. purchased a new position in shares of RenaissanceRe during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Bank of America boosted their price objective on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley decreased their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report 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 report on Thursday, July 25th. Finally, UBS Group decreased their price objective on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One 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, the company presently has a consensus rating of “Hold” and a consensus price target of $272.60.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $263.67 on Friday. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth 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. The firm has a 50 day simple moving average of $242.87 and a 200-day simple moving average of $231.32. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $268.61.

RenaissanceRe (NYSE:RNR) last posted its 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 company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Insider Transactions at RenaissanceRe

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