Glenmede Trust Co. NA Has $6.75 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Glenmede Trust Co. NA lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,773 shares of the insurance provider's stock after selling 1,944 shares during the period. Glenmede Trust Co. NA's holdings in RenaissanceRe were worth $6,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RNR. BNP Paribas Financial Markets raised its holdings in shares of RenaissanceRe by 5.9% in the third quarter. BNP Paribas Financial Markets now owns 11,261 shares of the insurance provider's stock valued at $3,067,000 after buying an additional 632 shares during the last quarter. FMR LLC increased its position in RenaissanceRe by 13.8% in the 3rd quarter. FMR LLC now owns 2,687 shares of the insurance provider's stock valued at $732,000 after acquiring an additional 326 shares in the last quarter. Bank of Montreal Can raised its stake in shares of RenaissanceRe by 6.4% in the third quarter. Bank of Montreal Can now owns 44,549 shares of the insurance provider's stock worth $12,002,000 after acquiring an additional 2,695 shares during the last quarter. Independent Advisor Alliance acquired a new position in shares of RenaissanceRe during the third quarter worth approximately $218,000. Finally, Fisher Asset Management LLC grew its stake in shares of RenaissanceRe by 12.3% during the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock valued at $22,003,000 after purchasing an additional 8,844 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RenaissanceRe

In other 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 sale, the executive vice president now directly owns 83,044 shares in the company, valued at approximately $22,338,836. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

RenaissanceRe Trading Up 0.2 %

NYSE RNR traded up $0.71 during trading on Friday, reaching $286.15. 244,225 shares of the stock traded hands, compared to its average volume of 358,827. The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.39. The stock's 50-day moving average price is $270.90 and its 200 day moving average price is $246.73. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week 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.

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

RenaissanceRe Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.55%. RenaissanceRe's dividend payout ratio is currently 2.25%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RNR. Jefferies Financial Group boosted their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. StockNews.com downgraded RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Evercore ISI raised their price target on RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, Barclays started coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 target price on the stock. One equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $293.00.

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.