Hancock Whitney Corp Cuts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Hancock Whitney Corp trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,452 shares of the insurance provider’s stock after selling 475 shares during the quarter. Hancock Whitney Corp’s holdings in RenaissanceRe were worth $2,457,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RNR. EntryPoint Capital LLC purchased a new position in RenaissanceRe in the first quarter worth $46,000. Fiera Capital Corp lifted its position in RenaissanceRe by 637.3% during the fourth quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider’s stock valued at $39,037,000 after purchasing an additional 172,154 shares during the period. Principal Financial Group Inc. lifted its position in RenaissanceRe by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 193,146 shares of the insurance provider’s stock valued at $37,857,000 after purchasing an additional 3,797 shares during the period. Retirement Systems of Alabama lifted its position in RenaissanceRe by 7.2% during the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock valued at $24,666,000 after purchasing an additional 8,441 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in RenaissanceRe by 38.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after purchasing an additional 6,874 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares in the company, valued at $19,675,120. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the executive vice president now directly owns 85,544 shares in the company, valued at $19,675,120. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Down 1.1 %

Shares of RNR traded down $2.52 during midday trading on Thursday, reaching $229.39. The stock had a trading volume of 267,193 shares, compared to its average volume of 339,388. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The company’s fifty day simple moving average is $223.93 and its two-hundred day simple moving average is $224.14. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 5.12, a PEG ratio of 1.28 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.86 by $2.32. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the firm posted $8.16 EPS. RenaissanceRe’s revenue for the quarter was up 41.3% on a year-over-year basis. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 37.54 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is 3.45%.

Wall Street Analyst Weigh In

RNR has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Monday. Morgan Stanley cut their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Bank of America boosted their target price on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, UBS Group dropped their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $263.40.

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.