RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Choreo LLC

Choreo LLC reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,169 shares of the insurance provider's stock after selling 2,841 shares during the quarter. Choreo LLC's holdings in RenaissanceRe were worth $2,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of RenaissanceRe in the 4th quarter valued at about $27,000. Tsfg LLC bought a new position in shares of RenaissanceRe in the 1st quarter valued at about $40,000. Huntington National Bank boosted its stake in shares of RenaissanceRe by 179.3% in the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 165 shares during the last quarter. LRI Investments LLC boosted its stake in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after acquiring an additional 141 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in RenaissanceRe by 165.1% during the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after buying an additional 289 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on 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 transaction, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.

RenaissanceRe Trading Up 3.4%

Shares of RNR traded up $8.18 during mid-day trading on Friday, hitting $247.18. 947,140 shares of the company's stock traded hands, compared to its average volume of 485,375. The firm has a market capitalization of $12.03 billion, a P/E ratio of 6.32, a PEG ratio of 2.80 and a beta of 0.30. The business's 50-day moving average price is $242.35 and its 200-day moving average price is $241.49. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year 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 0.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period last year, the firm posted $12.41 earnings per share. RenaissanceRe's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on RNR. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $268.00 price objective (down from $282.00) on shares of RenaissanceRe in a research report on Wednesday, July 9th. Barclays lifted their price objective on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research report on Thursday. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reduced their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has an average rating of "Hold" and a consensus 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.