RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 84.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,234 shares of the insurance provider's stock after selling 11,861 shares during the period. KBC Group NV's holdings in RenaissanceRe were worth $536,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp increased its position 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 buying an additional 127 shares during the period. Smartleaf Asset Management LLC increased its position in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the period. Finally, Tsfg LLC acquired a new position in RenaissanceRe during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Trading Up 2.1%

Shares of RNR stock opened at $240.90 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a market capitalization of $11.72 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 2.89 and a beta of 0.30. The business's 50 day moving average is $244.14 and its two-hundred day moving average is $242.61.

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

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.40 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

Analyst Ratings Changes

Several research analysts have commented on RNR shares. Jefferies Financial Group cut their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Morgan Stanley set a $285.00 price target on RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. Barclays lowered their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $283.60.

Insider Buying and Selling at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction that occurred 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 sale, the chief accounting officer directly 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 filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

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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