BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 5,915 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,996 shares of the insurance provider’s stock after selling 5,915 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in RenaissanceRe were worth $4,630,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new position in shares of RenaissanceRe in the 3rd quarter worth $30,000. Blue Trust Inc. bought a new position in RenaissanceRe during the second quarter worth about $27,000. UMB Bank n.a. boosted its holdings in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of RenaissanceRe during the 2nd quarter worth about $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Up 2.7 %

NYSE RNR opened at $271.90 on Monday. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50 day moving average price is $268.86 and its two-hundred day moving average price is $244.97. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.29 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company posted $8.33 earnings per share. The firm’s revenue was up 52.1% on a year-over-year basis. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.01 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is currently 2.25%.

Insider Transactions at RenaissanceRe

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price target on shares of 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 raised their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays assumed coverage on RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. Finally, Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $293.00.

About RenaissanceRe

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.