Schechter Investment Advisors LLC Sells 294 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Schechter Investment Advisors LLC lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,612 shares of the insurance provider’s stock after selling 294 shares during the period. Schechter Investment Advisors LLC’s holdings in RenaissanceRe were worth $867,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after buying an additional 127 shares during the period. Raymond James Financial Inc. acquired a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $8,498,000. Independent Advisor Alliance boosted its holdings in shares of RenaissanceRe by 7.7% in the fourth quarter. Independent Advisor Alliance now owns 864 shares of the insurance provider’s stock valued at $215,000 after buying an additional 62 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of RenaissanceRe by 5.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,404 shares of the insurance provider’s stock valued at $598,000 after buying an additional 133 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $4,290,000. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the subject of several research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Barclays upgraded shares of RenaissanceRe from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $231.00 to $256.00 in a report on Monday, July 7th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, April 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $268.00 target price (down previously from $282.00) on shares of RenaissanceRe in a report on Wednesday, July 9th. Finally, Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $288.00.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer directly owned 27,154 shares of the company’s stock, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $240.09 on Tuesday. The stock has a market cap of $11.68 billion, a P/E ratio of 7.66, a P/E/G ratio of 2.86 and a beta of 0.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The company has a fifty day moving average price of $244.00 and a two-hundred day moving average price of $242.20. RenaissanceRe Holdings Ltd. has a one year low of $210.51 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.18 EPS. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, June 13th. RenaissanceRe’s dividend payout ratio is currently 5.10%.

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.