Crossmark Global Holdings Inc. Reduces Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Crossmark Global Holdings Inc. trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,207 shares of the insurance provider’s stock after selling 935 shares during the period. Crossmark Global Holdings Inc.’s holdings in RenaissanceRe were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in shares of RenaissanceRe in the 3rd quarter valued at $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. UMB Bank n.a. increased its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of RenaissanceRe in the 3rd quarter valued at about $45,000. Finally, V Square Quantitative Management LLC grew its stake in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after buying an additional 41 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RNR shares. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $284.00 to $234.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $284.00.

RenaissanceRe Stock Up 1.7 %

RenaissanceRe stock opened at $256.14 on Friday. The stock’s 50 day moving average price is $261.80 and its 200 day moving average price is $256.57. The company has a market cap of $13.30 billion, a PE ratio of 3.69, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 1-year low of $205.62 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.33 EPS. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is 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.