BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 25.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in RenaissanceRe in the 2nd quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe in the 3rd quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe in the 2nd quarter worth about $31,000. UMB Bank n.a. raised its position in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock worth $34,000 after purchasing an additional 95 shares during the period. Finally, Advisors Asset Management Inc. purchased a new stake in RenaissanceRe in the 3rd quarter worth about $45,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Bank of America upped their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI upped their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, RenaissanceRe currently has an average rating of "Hold" and a consensus target price of $293.00.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.

RenaissanceRe Stock Up 2.8 %

Shares of NYSE RNR traded up $7.61 during midday trading on Monday, reaching $279.51. 513,376 shares of the company's stock traded hands, compared to its average volume of 359,276. 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 stock's 50 day simple moving average is $269.13 and its 200-day simple moving average is $245.35. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $300.00. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 4.03, a P/E/G ratio of 1.33 and a beta of 0.39.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 52.1% on a year-over-year basis. During the same period last year, the firm earned $8.33 earnings per share. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.56%. 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.