Captrust Financial Advisors Sells 60 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Captrust Financial Advisors reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 6,012 shares of the insurance provider’s stock after selling 60 shares during the quarter. Captrust Financial Advisors’ holdings in RenaissanceRe were worth $1,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new position in shares of RenaissanceRe during the fourth quarter valued at about $988,000. Bank of America Corp DE grew its holdings in shares of RenaissanceRe by 17.9% during the fourth quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider’s stock valued at $203,339,000 after buying an additional 124,125 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of RenaissanceRe during the fourth quarter valued at about $435,000. BNP Paribas Financial Markets grew its holdings in shares of RenaissanceRe by 10.5% during the fourth quarter. BNP Paribas Financial Markets now owns 12,447 shares of the insurance provider’s stock valued at $3,097,000 after buying an additional 1,186 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of RenaissanceRe by 5.4% during the fourth quarter. Ameriprise Financial Inc. now owns 71,210 shares of the insurance provider’s stock valued at $17,718,000 after buying an additional 3,674 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Down 1.5%

RNR opened at $244.45 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company’s 50-day moving average price is $239.96 and its two-hundred day moving average price is $249.54.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the firm earned $12.18 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, June 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 5.10%.

Analysts Set New Price Targets

RNR has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a report on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $282.60.

Insider Activity

In related news, CAO James Christopher Fraser sold 332 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now owns 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.