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

Carolina Wealth Advisors LLC cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RNR. Riverview Trust Co bought a new position in RenaissanceRe during the first quarter valued at approximately $26,000. Blue Trust Inc. purchased a new position in RenaissanceRe in the 2nd quarter worth $27,000. ORG Wealth Partners LLC bought a new stake in RenaissanceRe in the third quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe during the second quarter valued at about $31,000. Finally, Mather Group LLC. purchased a new position in shares of RenaissanceRe in the first quarter worth about $34,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RNR. Morgan Stanley dropped their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Evercore ISI lifted their target price on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.00.

RenaissanceRe Trading Down 0.9 %

RNR stock traded down $2.50 during trading on Monday, reaching $280.10. The company had a trading volume of 182,342 shares, compared to its average volume of 346,009. The business has a 50 day moving average of $260.37 and a 200 day moving average of $236.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $14.81 billion, a P/E ratio of 6.24, a PEG ratio of 1.83 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $284.35.

RenaissanceRe (NYSE:RNR) last released its 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 company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.93 billion. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.84 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued 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 was Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Insider Transactions at RenaissanceRe

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

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.