Glenmede Trust Co. NA Decreases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Glenmede Trust Co. NA cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,773 shares of the insurance provider’s stock after selling 1,944 shares during the quarter. Glenmede Trust Co. NA’s holdings in RenaissanceRe were worth $6,748,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in RenaissanceRe in the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in RenaissanceRe in the third quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in RenaissanceRe during the 2nd quarter valued at $31,000. UMB Bank n.a. grew its position in shares of RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe during the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.2 %

Shares of NYSE:RNR opened at $286.15 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 4.12, a PEG ratio of 1.39 and a beta of 0.39. The company has a 50 day moving average price of $270.45 and a 200 day moving average price of $246.30. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.33 earnings per share. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is presently 2.25%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of a number of recent research reports. Bank of America raised their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Citigroup boosted their price target on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $293.00.

About RenaissanceRe

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.