Crossmark Global Holdings Inc. Buys 766 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Crossmark Global Holdings Inc. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,142 shares of the insurance provider’s stock after purchasing an additional 766 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in RenaissanceRe were worth $1,128,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in shares of RenaissanceRe during the second quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in RenaissanceRe during the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new position in RenaissanceRe during the 2nd quarter valued at approximately $31,000. UMB Bank n.a. grew its holdings in RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in RenaissanceRe during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 1.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on RNR shares. Bank of America raised their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $293.00.

RenaissanceRe Price Performance

Shares of RNR stock opened at $256.96 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $13.35 billion, a P/E ratio of 3.70, a P/E/G ratio of 1.34 and a beta of 0.39. The stock has a 50 day moving average price of $267.93 and a 200 day moving average price of $242.85.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $8.33 EPS. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio is currently 2.25%.

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.