Carolina Wealth Advisors LLC Has $271,000 Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Carolina Wealth Advisors LLC cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 59.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,129 shares of the insurance provider's stock after selling 1,668 shares during the quarter. Carolina Wealth Advisors LLC's holdings in RenaissanceRe were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of RenaissanceRe in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp increased its position in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Smartleaf Asset Management LLC increased its position in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Finally, Huntington National Bank increased its position in RenaissanceRe by 179.3% during the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after purchasing an additional 165 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RNR has been the subject of a number of research analyst reports. Bank of America lowered their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group decreased their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Barclays decreased their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $283.60.

Insider Buying and Selling

In related news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

RenaissanceRe Trading Down 0.2%

RNR opened at $241.23 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $243.65 and a 200-day moving average of $243.43. The stock has a market cap of $11.74 billion, a PE ratio of 7.69, a price-to-earnings-growth ratio of 2.90 and a beta of 0.31.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted 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). RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the company earned $12.18 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio is presently 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.

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