Rockefeller Capital Management L.P. Purchases Shares of 13,525 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Rockefeller Capital Management L.P. acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,525 shares of the insurance provider's stock, valued at approximately $3,684,000.

A number of other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC acquired a new position in RenaissanceRe in the first quarter valued at about $201,000. Park Avenue Securities LLC grew its position in shares of RenaissanceRe by 3.2% in the 2nd quarter. Park Avenue Securities LLC now owns 3,626 shares of the insurance provider's stock valued at $810,000 after purchasing an additional 112 shares during the period. CWM LLC increased its stake in RenaissanceRe by 28.4% during the 2nd quarter. CWM LLC now owns 783 shares of the insurance provider's stock worth $175,000 after purchasing an additional 173 shares in the last quarter. Nepsis Inc. raised its holdings in RenaissanceRe by 0.9% during the 2nd quarter. Nepsis Inc. now owns 91,072 shares of the insurance provider's stock worth $20,356,000 after buying an additional 831 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in RenaissanceRe by 1.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the insurance provider's stock valued at $1,493,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Down 2.5 %

Shares of NYSE RNR traded down $7.23 during trading hours on Friday, hitting $279.83. The company had a trading volume of 418,369 shares, compared to its average volume of 360,117. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $272.61 and its 200-day moving average is $248.42. The stock has a market capitalization of $14.53 billion, a P/E ratio of 4.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts' consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations 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 last year, the company posted $8.33 earnings per share. On average, analysts expect 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. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company's stock, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RNR shares. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. StockNews.com cut RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods cut their price target on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Jefferies Financial Group increased their price objective on RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe presently has an average rating of "Hold" and an average price target 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.