RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,393 shares of the insurance provider’s stock after selling 805 shares during the period. Cambiar Investors LLC’s holdings in RenaissanceRe were worth $2,337,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RNR. ORG Wealth Partners LLC acquired a new position in RenaissanceRe during the third quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. UMB Bank n.a. grew its stake in shares of RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of RenaissanceRe in the 3rd quarter valued at approximately $45,000. Finally, V Square Quantitative Management LLC grew its stake in shares of RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 2.3 %

RenaissanceRe stock opened at $234.09 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a market cap of $12.16 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. The stock’s 50 day moving average price is $253.99 and its 200 day moving average price is $258.03.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 29.92 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s payout ratio is presently 4.45%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI lifted their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average price target of $279.90.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

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.