Atria Investments Inc Reduces Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Atria Investments Inc lowered its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,091 shares of the insurance provider’s stock after selling 232 shares during the quarter. Atria Investments Inc’s holdings in RenaissanceRe were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RNR. Bridges Investment Management Inc. raised its holdings in RenaissanceRe by 12.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 5,100 shares of the insurance provider’s stock worth $1,389,000 after purchasing an additional 560 shares during the period. Assetmark Inc. increased its position in RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after buying an additional 43,384 shares in the last quarter. Lifestyle Asset Management Inc. raised its stake in shares of RenaissanceRe by 2.5% in the third quarter. Lifestyle Asset Management Inc. now owns 4,593 shares of the insurance provider’s stock worth $1,251,000 after buying an additional 113 shares during the period. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after buying an additional 415,366 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $424,000. Institutional investors own 99.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value 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. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on RNR. Wells Fargo & Company raised their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.00.

RenaissanceRe Price Performance

NYSE:RNR opened at $260.18 on Friday. The business’s 50-day moving average is $267.97 and its 200 day moving average is $243.28. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00. The company has a market capitalization of $13.51 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.32 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $8.33 EPS. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.60%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.25%.

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.