MetLife Investment Management LLC Has $7.34 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

MetLife Investment Management LLC lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,943 shares of the insurance provider’s stock after selling 884 shares during the quarter. MetLife Investment Management LLC owned 0.05% of RenaissanceRe worth $7,339,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in shares of RenaissanceRe by 5.9% during the third quarter. BNP Paribas Financial Markets now owns 11,261 shares of the insurance provider’s stock worth $3,067,000 after buying an additional 632 shares in the last quarter. FMR LLC boosted its position in RenaissanceRe by 13.8% during the 3rd quarter. FMR LLC now owns 2,687 shares of the insurance provider’s stock worth $732,000 after acquiring an additional 326 shares during the last quarter. Bank of Montreal Can grew its stake in shares of RenaissanceRe by 6.4% during the 3rd quarter. Bank of Montreal Can now owns 44,549 shares of the insurance provider’s stock worth $12,002,000 after acquiring an additional 2,695 shares in the last quarter. Independent Advisor Alliance acquired a new stake in shares of RenaissanceRe in the third quarter valued at approximately $218,000. Finally, Fisher Asset Management LLC lifted its position in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.2 %

Shares of RNR stock opened at $286.15 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The firm has a 50 day moving average price of $270.45 and a two-hundred day moving average price of $246.30. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $14.86 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’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 firm posted $8.33 EPS. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on RNR. Barclays initiated coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target on the stock. Evercore ISI upped their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods decreased their price target on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average price target of $293.00.

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.