Carolina Wealth Advisors LLC Sells 256 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Carolina Wealth Advisors LLC lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,722 shares of the insurance provider’s stock after selling 256 shares during the period. Carolina Wealth Advisors LLC’s holdings in RenaissanceRe were worth $741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RNR. V Square Quantitative Management LLC boosted its holdings in RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in RenaissanceRe by 19.8% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after buying an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in RenaissanceRe by 4.6% in the third quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock valued at $292,000 after buying an additional 47 shares during the period. CWM LLC boosted its position in RenaissanceRe by 8.7% during the first quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 49 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in RenaissanceRe by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RNR shares. Morgan Stanley cut their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup increased their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Bank of America lifted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $289.00.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,500 shares of company stock worth $1,109,400. 1.30% of the stock is owned by insiders.

RenaissanceRe Stock Down 0.9 %

RNR traded down $2.50 during midday trading on Monday, reaching $280.10. 182,342 shares of the company were exchanged, compared to its average volume of 346,009. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $284.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average price is $260.37 and its 200 day moving average price is $236.71. The company has a market cap of $14.81 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 39.84 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, September 13th. RenaissanceRe’s payout ratio is currently 3.45%.

RenaissanceRe Company 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.