Janus Henderson Group PLC Sells 10,994 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Janus Henderson Group PLC lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,002 shares of the insurance provider's stock after selling 10,994 shares during the quarter. Janus Henderson Group PLC owned 0.22% of RenaissanceRe worth $30,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. bought a new stake in RenaissanceRe in the 2nd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe during the third quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe during the second quarter valued at $31,000. UMB Bank n.a. lifted its holdings in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 95 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in RenaissanceRe in the third quarter worth about $45,000. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays initiated coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 price objective on the stock. Evercore ISI increased their price target 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. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. 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. Finally, Citigroup increased their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.00.

Insider Transactions at RenaissanceRe

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

RenaissanceRe Price Performance

Shares of RNR stock traded down $7.40 during trading hours on Friday, hitting $279.66. The stock had a trading volume of 418,371 shares, compared to its average volume of 497,231. The stock's 50-day moving average price is $272.82 and its two-hundred day moving average price is $248.79. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $300.00. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 1.39 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

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 (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the firm earned $8.33 EPS. The company's revenue for the quarter was up 52.1% on a year-over-year basis. Equities analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.56%. RenaissanceRe's payout ratio is currently 2.25%.

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.