Exchange Traded Concepts LLC Sells 54 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Exchange Traded Concepts LLC trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,823 shares of the insurance provider’s stock after selling 54 shares during the quarter. Exchange Traded Concepts LLC’s holdings in RenaissanceRe were worth $769,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $46,000. Wedge Capital Management L L P NC bought a new stake in RenaissanceRe during the 2nd quarter worth approximately $2,887,000. Russell Investments Group Ltd. grew its holdings in RenaissanceRe by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after acquiring an additional 3,962 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in RenaissanceRe during the 1st quarter worth approximately $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in RenaissanceRe by 47.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock worth $5,815,000 after acquiring an additional 7,975 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI boosted their price target on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $289.00.

RenaissanceRe Stock Down 0.3 %

Shares of NYSE RNR opened at $282.60 on Friday. The firm has a market cap of $14.74 billion, a PE ratio of 5.59, a P/E/G ratio of 1.83 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $283.86. The company’s fifty day simple moving average is $260.37 and its 200 day simple moving average is $236.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.93 billion. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.84 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is 3.08%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the transaction, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the completion of the transaction, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,500 shares of company stock valued at $1,109,400. Corporate insiders own 1.80% 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.