BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 5,915 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 25.8% in the third quarter, HoldingsChannel.com reports. The firm owned 16,996 shares of the insurance provider’s stock after selling 5,915 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in RenaissanceRe were worth $4,630,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. EntryPoint Capital LLC bought a new position in shares of RenaissanceRe during the first quarter worth about $46,000. Wedge Capital Management L L P NC acquired a new position in shares of RenaissanceRe in the 2nd quarter worth approximately $2,887,000. Intech Investment Management LLC boosted its stake in shares of RenaissanceRe by 52.9% in the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock valued at $1,608,000 after purchasing an additional 2,490 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of RenaissanceRe by 741.7% during the first quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock worth $261,000 after buying an additional 979 shares during the period. Finally, Atria Investments Inc bought a new position in RenaissanceRe during the first quarter worth $1,168,000. 99.97% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $271.90 on Monday. The stock has a market cap of $14.12 billion, a P/E ratio of 3.92, a P/E/G ratio of 1.29 and a beta of 0.39. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $268.86 and its two-hundred day moving average price is $244.97. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share 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 quarter in the previous year, the firm earned $8.33 earnings per share. The business’s revenue was up 52.1% on a year-over-year basis. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 42.01 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Analyst Ratings Changes

RNR has been the topic of a number of research analyst reports. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Bank of America increased their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup lifted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Barclays began coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $293.00.

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.