RenaissanceRe Holdings Ltd. (NYSE:RNR) Director David C. Bushnell Sells 600 Shares

RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) Director David C. Bushnell sold 600 shares of RenaissanceRe stock in a transaction on Friday, May 20th. The stock was sold at an average price of $148.41, for a total transaction of $89,046.00. Following the sale, the director now owns 19,914 shares in the company, valued at $2,955,436.74. The sale was disclosed in a document filed with the SEC, which is available through this link.

NYSE RNR traded up $0.94 during trading on Tuesday, reaching $151.47. The company’s stock had a trading volume of 314,791 shares, compared to its average volume of 394,315. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -30.99 and a beta of 0.58. RenaissanceRe Holdings Ltd. has a twelve month low of $134.70 and a twelve month high of $174.54. The business’s fifty day moving average price is $150.96 and its 200-day moving average price is $156.45.

RenaissanceRe (NYSE:RNRGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($1.13). The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2 billion. RenaissanceRe had a negative net margin of 2.68% and a positive return on equity of 4.25%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 15.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a $0.37 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.98%. RenaissanceRe’s dividend payout ratio is presently -30.52%.

Several institutional investors have recently modified their holdings of the company. Capital World Investors increased its stake in shares of RenaissanceRe by 5.4% during the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after acquiring an additional 129,891 shares during the period. Southeastern Asset Management Inc. TN increased its stake in shares of RenaissanceRe by 16.9% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 1,062,630 shares of the insurance provider’s stock worth $179,935,000 after acquiring an additional 153,677 shares during the period. JPMorgan Chase & Co. increased its stake in shares of RenaissanceRe by 25.4% during the first quarter. JPMorgan Chase & Co. now owns 1,030,743 shares of the insurance provider’s stock worth $163,382,000 after acquiring an additional 208,690 shares during the period. Cooke & Bieler LP increased its stake in shares of RenaissanceRe by 28.0% during the third quarter. Cooke & Bieler LP now owns 992,795 shares of the insurance provider’s stock worth $138,396,000 after acquiring an additional 217,095 shares during the period. Finally, Gladstone Capital Management LLP increased its stake in shares of RenaissanceRe by 18.0% during the first quarter. Gladstone Capital Management LLP now owns 991,194 shares of the insurance provider’s stock worth $157,114,000 after acquiring an additional 151,079 shares during the period. Institutional investors and hedge funds own 98.18% of the company’s stock.

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of RenaissanceRe from $175.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Monday. TheStreet lowered shares of RenaissanceRe from a “b-” rating to a “c” rating in a research note on Thursday, March 10th. Finally, StockNews.com assumed coverage on shares of RenaissanceRe in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $175.20.

About RenaissanceRe (Get Rating)

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

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