Insider Selling: RenaissanceRe Holdings Ltd. (RNR) SVP Sells $390,000.00 in Stock
RenaissanceRe Holdings Ltd. (NYSE:RNR) SVP Ian D. Branagan sold 3,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $130.00, for a total value of $390,000.00. Following the transaction, the senior vice president now owns 48,589 shares in the company, valued at $6,316,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at 131.87 on Friday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.21 and a beta of 0.46. RenaissanceRe Holdings Ltd. has a 1-year low of $107.27 and a 1-year high of $132.43. The stock has a 50 day moving average price of $124.08 and a 200 day moving average price of $118.28.
RenaissanceRe Holdings (NYSE:RNR) last issued its earnings results on Tuesday, November 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.30. RenaissanceRe Holdings had a net margin of 30.02% and a return on equity of 8.54%. The business earned $442.47 million during the quarter, compared to the consensus estimate of $488.38 million. During the same period last year, the business posted $2.58 EPS. RenaissanceRe Holdings’s revenue was up 23.9% on a year-over-year basis. Analysts forecast that RenaissanceRe Holdings Ltd. will post $6.48 earnings per share for the current year.
Several equities analysts recently issued reports on the company. Goldman Sachs Group Inc. upgraded RenaissanceRe Holdings from a “sell” rating to a “neutral” rating in a research note on Tuesday. Zacks Investment Research upgraded RenaissanceRe Holdings from a “sell” rating to a “hold” rating in a research note on Friday, October 7th. Finally, Keefe, Bruyette & Woods boosted their price target on RenaissanceRe Holdings from $130.00 to $134.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $119.14.
A number of large investors have recently modified their holdings of RNR. Vanguard Group Inc. increased its stake in shares of RenaissanceRe Holdings by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,524,571 shares of the company’s stock valued at $413,926,000 after buying an additional 87,599 shares during the period. BlackRock Fund Advisors increased its stake in shares of RenaissanceRe Holdings by 7.6% in the second quarter. BlackRock Fund Advisors now owns 2,127,662 shares of the company’s stock valued at $249,873,000 after buying an additional 150,103 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of RenaissanceRe Holdings by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,164,621 shares of the company’s stock valued at $136,766,000 after buying an additional 73,621 shares during the period. Cooke & Bieler LP increased its stake in shares of RenaissanceRe Holdings by 15.4% in the second quarter. Cooke & Bieler LP now owns 1,120,151 shares of the company’s stock valued at $131,551,000 after buying an additional 149,369 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of RenaissanceRe Holdings by 1.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 891,367 shares of the company’s stock valued at $104,682,000 after buying an additional 9,147 shares during the period. Institutional investors and hedge funds own 94.07% of the company’s stock.
About RenaissanceRe Holdings
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.
Receive News & Stock Ratings for RenaissanceRe Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe Holdings Ltd. and related stocks with our FREE daily email newsletter.