Heritage Wealth Management LLC Sells 69 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

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.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Sunday, October 24th. The insurance provider reported ($8.98) EPS for the quarter, topping the Zacks’ consensus estimate of ($9.38) by $0.40. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.09 billion. RenaissanceRe had a negative net margin of 1.19% and a negative return on equity of 2.85%. During the same period last year, the company posted ($2.64) earnings per share. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 0.85 earnings per share for the current year.

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.

About RenaissanceRe

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNR).

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.