Sumitomo Mitsui Trust Holdings Inc. Sells 400 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,768 shares of the insurance provider’s stock after selling 400 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in RenaissanceRe were worth $3,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in RenaissanceRe by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock valued at $1,072,235,000 after buying an additional 120,302 shares during the period. Boston Partners raised its stake in RenaissanceRe by 7.1% in the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock valued at $406,390,000 after buying an additional 135,861 shares during the period. Bank of New York Mellon Corp raised its stake in RenaissanceRe by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 1,451,530 shares of the insurance provider’s stock valued at $287,287,000 after buying an additional 249,196 shares during the period. Polar Capital Holdings Plc raised its stake in RenaissanceRe by 7.5% in the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock valued at $218,653,000 after buying an additional 77,319 shares during the period. Finally, Earnest Partners LLC raised its stake in RenaissanceRe by 2.9% in the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock valued at $108,558,000 after buying an additional 15,692 shares during the period. Institutional investors own 99.97% of the company’s stock.

Insiders Place Their Bets

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now directly owns 5,363 shares in the company, valued at $1,220,565.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the transaction, the chief financial officer now directly owns 70,424 shares in the company, valued at approximately $16,518,653.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carol P. Sanders sold 880 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock worth $958,429 over the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the topic of several research reports. TD Cowen initiated coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. UBS Group upped their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. BMO Capital Markets upped their target price on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Evercore ISI upped their target price on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their target price on RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $247.89.

RenaissanceRe Trading Down 0.2 %

Shares of NYSE:RNR opened at $219.75 on Thursday. The company has a market capitalization of $11.58 billion, a P/E ratio of 4.29, a P/E/G ratio of 3.01 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. The business’s 50 day simple moving average is $227.24 and its 200 day simple moving average is $216.06.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $7.33 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 0.71%. RenaissanceRe’s dividend payout ratio is presently 3.05%.

RenaissanceRe Profile

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.