RenaissanceRe Holdings Ltd. (NYSE:RNR) Stake Reduced by National Bank of Canada FI

National Bank of Canada FI decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 95.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219 shares of the insurance provider’s stock after selling 5,158 shares during the period. National Bank of Canada FI’s holdings in RenaissanceRe were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Intech Investment Management LLC boosted its holdings in RenaissanceRe by 52.9% during the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after buying an additional 2,490 shares in the last quarter. Algert Global LLC acquired a new stake in shares of RenaissanceRe during the 2nd quarter valued at $1,186,000. Rockefeller Capital Management L.P. acquired a new stake in shares of RenaissanceRe during the 3rd quarter valued at $3,684,000. Fisher Asset Management LLC boosted its stake in shares of RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after acquiring an additional 8,844 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after acquiring an additional 23,956 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup upped their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a 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 target on the stock. JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group boosted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $293.00.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the transaction, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $255.19 on Wednesday. The business has a fifty day simple moving average of $272.33 and a 200 day simple moving average of $250.96. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 1 year low of $190.89 and a 1 year high of $300.00. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 3.68, a P/E/G ratio of 1.31 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results 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. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $8.33 EPS. The firm’s revenue was up 52.1% on a year-over-year basis. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

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.