RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 30.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 998 shares of the insurance provider’s stock after selling 446 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in RenaissanceRe were worth $223,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CWM LLC raised its holdings in RenaissanceRe by 8.7% during the first quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 49 shares in the last quarter. State of Alaska Department of Revenue lifted its position in RenaissanceRe by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after acquiring an additional 50 shares during the last quarter. Hilltop National Bank boosted its stake in RenaissanceRe by 14.9% in the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after acquiring an additional 52 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of RenaissanceRe by 1.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock worth $965,000 after purchasing an additional 73 shares during the last quarter. Finally, Benedict Financial Advisors Inc. increased its position in shares of RenaissanceRe by 0.6% during the first quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock worth $2,866,000 after purchasing an additional 77 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RNR. Morgan Stanley cut their target price on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. UBS Group decreased their target price on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company dropped their price target on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, Bank of America increased their price objective on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $263.40.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 85,544 shares in the company, valued at $19,675,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 85,544 shares in the company, valued at $19,675,120. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.8 %

Shares of RNR stock opened at $259.04 on Thursday. The business has a fifty day simple moving average of $232.73 and a 200-day simple moving average of $228.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market cap of $13.70 billion, a P/E ratio of 5.72, a P/E/G ratio of 1.39 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $186.45 and a fifty-two week high of $260.97.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.60%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

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.