Heritage Wealth Management LLC lessened its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238 shares of the insurance provider’s stock after selling 69 shares during the period. Heritage Wealth Management LLC’s holdings in RenaissanceRe were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter valued at about $31,000. Parisi Gray Wealth Management purchased a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $34,000. Signaturefd LLC raised its position in shares of RenaissanceRe by 40.2% during the 3rd quarter. Signaturefd LLC now owns 251 shares of the insurance provider’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. West Branch Capital LLC purchased a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $47,000. Finally, First Horizon Advisors Inc. raised its position in shares of RenaissanceRe by 13,557.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 956 shares of the insurance provider’s stock valued at $50,000 after buying an additional 949 shares in the last quarter. 96.83% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:RNR opened at $171.32 on Friday. The firm’s 50 day simple moving average is $164.23 and its 200-day simple moving average is $154.99. RenaissanceRe Holdings Ltd. has a one year low of $137.66 and a one year high of $175.12. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.
The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, December 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently -56.92%.
In other news, Director Henry Klehm III sold 1,300 shares of the stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $154.72, for a total transaction of $201,136.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ian D. Branagan acquired 3,440 shares of the company’s stock in a transaction dated Friday, October 29th. The shares were acquired at an average price of $143.93 per share, for a total transaction of $495,119.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 23,340 shares of company stock worth $3,365,065. Corporate insiders own 1.30% of the company’s stock.
Several analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of RenaissanceRe in a research report on Thursday, November 18th. They set a “buy” rating and a $192.00 target price on the stock. TheStreet cut shares of RenaissanceRe from a “b-” rating to a “c” rating in a research report on Monday, October 25th. Zacks Investment Research lowered shares of RenaissanceRe from a “hold” rating to a “strong sell” rating and set a $140.00 price objective on the stock. in a research report on Tuesday, December 7th. Bank of America raised shares of RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $163.00 to $218.00 in a research report on Monday, November 8th. Finally, Morgan Stanley increased their price objective on shares of RenaissanceRe from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Friday, November 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $184.33.
RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following segments: Property, Casualty and Specialty, and Other. The Property segment comprises of catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance and insurance.
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