RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,458 shares of the insurance provider’s stock after selling 70 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in RenaissanceRe were worth $3,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in RenaissanceRe in the first quarter valued at about $46,000. Wedge Capital Management L L P NC purchased a new stake in shares of RenaissanceRe in the second quarter valued at approximately $2,887,000. Russell Investments Group Ltd. grew its holdings in RenaissanceRe by 16.9% during the first 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 period. Intech Investment Management LLC raised its position in RenaissanceRe by 52.9% in the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after acquiring an additional 2,490 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in RenaissanceRe by 741.7% in the first quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 979 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now owns 83,044 shares in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup increased their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Bank of America upped 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. Evercore ISI lifted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. One 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 data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $293.00.

RenaissanceRe Stock Up 1.3 %

RNR opened at $260.23 on Friday. The business’s fifty day simple moving average is $267.97 and its 200 day simple moving average is $243.11. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The firm has a market cap of $13.52 billion, a P/E ratio of 3.75, a PEG ratio of 1.32 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.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping 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 company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.33 earnings per share. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.60%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 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.