Atria Investments Inc Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Atria Investments Inc reduced its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 5,091 shares of the insurance provider’s stock after selling 232 shares during the period. Atria Investments Inc’s holdings in RenaissanceRe were worth $1,387,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RNR. EntryPoint Capital LLC purchased a new position in RenaissanceRe during the 1st quarter worth $46,000. Wedge Capital Management L L P NC purchased a new position in shares of RenaissanceRe during the second quarter valued at $2,887,000. Russell Investments Group Ltd. raised its holdings in shares of RenaissanceRe by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock valued at $6,451,000 after acquiring an additional 3,962 shares in the last quarter. Intech Investment Management LLC lifted its stake in RenaissanceRe by 52.9% in the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after acquiring an additional 2,490 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in RenaissanceRe by 741.7% in the first quarter. Acadian Asset Management LLC now owns 1,111 shares of the insurance provider’s stock worth $261,000 after acquiring an additional 979 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 1.3 %

Shares of NYSE:RNR opened at $260.18 on Friday. The business’s 50-day moving average is $267.97 and its 200 day moving average is $243.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $300.00. The firm has a market capitalization of $13.51 billion, a P/E ratio of 3.75, a P/E/G ratio of 1.32 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.33 earnings per share. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.60%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays assumed coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Evercore ISI boosted their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.00.

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.