Cerity Partners LLC Has $1.05 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cerity Partners LLC trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 61.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,370 shares of the insurance provider's stock after selling 6,960 shares during the period. Cerity Partners LLC's holdings in RenaissanceRe were worth $1,049,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RNR. Aster Capital Management DIFC Ltd bought a new stake in shares of RenaissanceRe in the 4th quarter worth about $27,000. Tsfg LLC bought a new stake in shares of RenaissanceRe in the 1st quarter worth about $40,000. Huntington National Bank increased its position in shares of RenaissanceRe by 179.3% in 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 during the last quarter. UMB Bank n.a. increased its position in shares of RenaissanceRe by 165.1% in the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after purchasing an additional 289 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of RenaissanceRe in the 4th quarter worth about $175,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer owned 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction 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 Price Performance

Shares of RNR stock traded up $8.18 during midday trading on Friday, reaching $247.18. 947,140 shares of the company were exchanged, compared to its average volume of 485,375. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00. The company has a market cap of $12.03 billion, a P/E ratio of 6.32, a PEG ratio of 2.89 and a beta of 0.30. The company's 50 day moving average price is $242.35 and its two-hundred day moving average price is $241.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping analysts' consensus estimates of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm earned $12.41 EPS. The business's revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. RenaissanceRe's payout ratio is currently 4.09%.

Analyst Ratings Changes

RNR has been the subject of several research reports. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $269.00 price target (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $268.00 price target (down from $282.00) on shares of RenaissanceRe in a report on Wednesday, July 9th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, July 14th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and an average price target of $289.89.

RenaissanceRe 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.