RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 41.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,811 shares of the insurance provider's stock after selling 2,000 shares during the quarter. HB Wealth Management LLC's holdings in RenaissanceRe were worth $675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RNR. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $27,000. Tsfg LLC purchased a new stake in RenaissanceRe during the first quarter worth $40,000. Huntington National Bank boosted its position in RenaissanceRe by 179.3% during the fourth 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. LRI Investments LLC boosted its position in RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after purchasing an additional 141 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in RenaissanceRe by 165.1% during the first quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after purchasing an additional 289 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RNR has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Barclays boosted their target price on RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. JMP Securities restated 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 RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $287.50.

RenaissanceRe Trading Down 1.0%

RenaissanceRe stock traded down $2.36 during trading on Friday, hitting $241.38. The company's stock had a trading volume of 325,128 shares, compared to its average volume of 515,340. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 2.48 and a beta of 0.29. The stock's fifty day moving average is $242.40 and its 200 day moving average is $241.10. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $300.00. 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, beating the consensus estimate of $10.28 by $2.01. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.41 earnings per share. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, September 15th. This represents a $1.60 annualized dividend and a yield of 0.7%. RenaissanceRe's dividend payout ratio is currently 4.09%.

Insider Buying and Selling

In other RenaissanceRe 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 transaction of $82,847.28. Following the completion of the sale, the chief accounting officer directly owned 27,154 shares in the company, 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 SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.