Handelsbanken Fonder AB Purchases 800 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Handelsbanken Fonder AB increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,100 shares of the insurance provider’s stock after purchasing an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in RenaissanceRe were worth $3,259,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB lifted its position in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. UMB Bank n.a. lifted its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. bought a new position in RenaissanceRe during the third quarter worth $45,000. ORG Wealth Partners LLC increased its holdings in shares of RenaissanceRe by 129.4% in the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 141 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 214 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RNR shares. Evercore ISI lifted their price target 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 reduced their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley lowered their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $279.90.

RenaissanceRe Stock Down 1.0 %

RNR opened at $226.53 on Monday. The company has a 50 day moving average of $245.82 and a 200 day moving average of $258.14. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a market cap of $11.16 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.71%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is presently 4.45%.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently 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.