RenaissanceRe (NYSE:RNR) EVP Robert Qutub Sells 5,000 Shares

RenaissanceRe Holdings Ltd. (NYSE:RNR) EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the sale, the executive vice president owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

RenaissanceRe Stock Performance

RenaissanceRe stock traded down $4.10 during trading hours on Friday, hitting $301.19. The company had a trading volume of 474,810 shares, compared to its average volume of 398,552. The firm has a 50-day moving average of $275.31 and a 200 day moving average of $258.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.40. The firm has a market cap of $13.89 billion, a PE ratio of 5.31, a PEG ratio of 3.14 and a beta of 0.24. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $310.80.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, beating the consensus estimate of $10.59 by $2.75. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.06 earnings per share. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Financial Consulate Inc. bought a new stake in shares of RenaissanceRe during the 3rd quarter worth $29,000. Huntington National Bank boosted its stake in RenaissanceRe by 80.9% in the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in RenaissanceRe by 151.9% in the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 79 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RNR. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. BMO Capital Markets restated an “outperform” rating and set a $303.00 target price on shares of RenaissanceRe in a research report on Friday, December 5th. TD Cowen reaffirmed a “hold” rating on shares of RenaissanceRe in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of RenaissanceRe in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $303.33.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.