National Bank of Canada FI Sells 5,158 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

National Bank of Canada FI decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 95.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 219 shares of the insurance provider's stock after selling 5,158 shares during the quarter. National Bank of Canada FI's holdings in RenaissanceRe were worth $60,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RNR. Blue Trust Inc. bought a new stake in RenaissanceRe during the second quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of RenaissanceRe in the 3rd quarter worth $30,000. UMB Bank n.a. raised its stake in shares of 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 buying an additional 95 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of RenaissanceRe in the third quarter valued at $45,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in RenaissanceRe during the second quarter valued at about $49,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods dropped 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. Finally, Jefferies Financial Group reissued a "hold" rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and a consensus price target of $290.09.

RenaissanceRe Stock Down 5.2 %

Shares of RNR stock traded down $13.22 on Wednesday, reaching $241.97. 813,037 shares of the company's stock traded hands, compared to its average volume of 365,213. The company has a market capitalization of $12.57 billion, a P/E ratio of 3.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. RenaissanceRe Holdings Ltd. has a 12-month low of $190.89 and a 12-month high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The business's 50 day moving average price is $271.69 and its two-hundred day moving average price is $250.90.

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

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given 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 yield of 0.64%. RenaissanceRe's payout ratio is 2.25%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company's stock.

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.