RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Hilton Capital Management LLC

Hilton Capital Management LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,373 shares of the insurance provider’s stock after purchasing an additional 319 shares during the quarter. Hilton Capital Management LLC’s holdings in RenaissanceRe were worth $1,834,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RNR. Impax Asset Management Group plc grew its position in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after buying an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $3,684,000. Fisher Asset Management LLC boosted its position in RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after purchasing an additional 8,844 shares during the period. Geode Capital Management LLC grew its stake in RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the last quarter. Finally, Citigroup Inc. increased its position in RenaissanceRe by 367.4% in the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after buying an additional 23,956 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.5 %

Shares of NYSE RNR opened at $236.21 on Friday. The firm has a market capitalization of $11.63 billion, a PE ratio of 6.74, a PEG ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $242.71 and a two-hundred day moving average price of $257.81.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. RenaissanceRe’s payout ratio is presently 4.57%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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 note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Barclays cut shares of 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. JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $279.90.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.