RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,110 shares of the insurance provider's stock after selling 2,066 shares during the period. Amalgamated Bank's holdings in RenaissanceRe were worth $5,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. Smartleaf Asset Management LLC grew its stake in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after buying an additional 65 shares in the last quarter. Jones Financial Companies Lllp increased its stake in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the period. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the fourth quarter worth about $29,000. Steward Partners Investment Advisory LLC lifted its position in shares of RenaissanceRe by 4.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,441 shares of the insurance provider's stock worth $1,603,000 after purchasing an additional 299 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of RenaissanceRe by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 23,349 shares of the insurance provider's stock valued at $5,809,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

RNR has been the topic of a number of research reports. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Jefferies Financial Group decreased their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the company an "overweight" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $283.60.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at $6,776,009.16. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

RenaissanceRe Stock Up 2.1%

Shares of NYSE RNR traded up $5.07 during midday trading on Friday, hitting $240.90. 332,916 shares of the company's stock were exchanged, compared to its average volume of 445,788. The firm's fifty day simple moving average is $244.02 and its 200-day simple moving average is $242.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $11.72 billion, a PE ratio of 7.68, a P/E/G ratio of 2.83 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $12.18 EPS. Research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, June 13th. RenaissanceRe's payout ratio is 5.10%.

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.