Sean G. Brosnan Sells 1,250 Shares of RenaissanceRe Holdings Ltd. (RNR) Stock

RenaissanceRe Holdings Ltd. (NYSE:RNR) SVP Sean G. Brosnan sold 1,250 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total transaction of $182,462.50. Following the completion of the sale, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The transaction was disclosed in a filing with the SEC, which is available at this link.

RNR stock opened at $144.71 on Thursday. RenaissanceRe Holdings Ltd. has a 1-year low of $117.35 and a 1-year high of $147.85. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.38 and a beta of 0.50.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.93) by $1.95. RenaissanceRe had a return on equity of 9.18% and a net margin of 10.96%. The business had revenue of $633.44 million during the quarter, compared to the consensus estimate of $545.60 million. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 11.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.94%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, March 14th. RenaissanceRe’s dividend payout ratio is presently 14.39%.

RNR has been the subject of several analyst reports. Bank of America lowered shares of RenaissanceRe from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 16th. Zacks Investment Research raised shares of RenaissanceRe from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. Wells Fargo & Co reissued a “hold” rating and issued a $125.00 target price on shares of RenaissanceRe in a report on Tuesday, January 29th. TheStreet raised shares of RenaissanceRe from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Finally, Deutsche Bank raised shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $143.70.

Hedge funds have recently bought and sold shares of the business. Paloma Partners Management Co bought a new position in RenaissanceRe in the 3rd quarter worth approximately $214,000. Vanguard Group Inc. boosted its position in shares of RenaissanceRe by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,103,600 shares of the insurance provider’s stock valued at $548,159,000 after acquiring an additional 59,867 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of RenaissanceRe by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 52,208 shares of the insurance provider’s stock valued at $6,980,000 after acquiring an additional 176 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of RenaissanceRe during the 4th quarter valued at approximately $261,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of RenaissanceRe by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,710 shares of the insurance provider’s stock valued at $1,297,000 after acquiring an additional 540 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

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RenaissanceRe Company Profile

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 earthquakes, hurricanes, 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, and binding facilities and regional U.S.

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