Brown Brothers Harriman & Co. Sells 2,522 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Brown Brothers Harriman & Co. cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 33.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,983 shares of the insurance provider's stock after selling 2,522 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in RenaissanceRe were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC raised its stake in RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of RenaissanceRe by 19.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider's stock valued at $63,000 after buying an additional 45 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of RenaissanceRe by 4.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider's stock worth $292,000 after acquiring an additional 47 shares during the last quarter. Hilltop National Bank grew its position in RenaissanceRe by 14.9% in the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider's stock worth $89,000 after acquiring an additional 52 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in RenaissanceRe by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider's stock valued at $417,000 after acquiring an additional 53 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RNR. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Evercore ISI increased their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe has a consensus rating of "Hold" and a consensus target price of $293.00.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $278.92 on Wednesday. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00. The firm has a market cap of $14.49 billion, a P/E ratio of 4.07, a P/E/G ratio of 1.36 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $269.13 and a 200-day moving average of $245.35.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts' consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $8.33 EPS. The business's quarterly revenue was up 52.1% compared to the same quarter last year. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe's payout ratio is 2.25%.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.