AGF Management Ltd. Sells 3,520 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

AGF Management Ltd. lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 27.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,226 shares of the insurance provider’s stock after selling 3,520 shares during the quarter. AGF Management Ltd.’s holdings in RenaissanceRe were worth $2,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. SBI Securities Co. Ltd. bought a new position in RenaissanceRe during the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp lifted 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 worth $34,000 after buying an additional 127 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 1.4 %

Shares of NYSE RNR opened at $239.63 on Friday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50 day simple moving average is $242.19 and its two-hundred day simple moving average is $257.59. The stock has a market capitalization of $11.80 billion, a P/E ratio of 6.84, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating 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 expect that RenaissanceRe Holdings Ltd. will post 26.04 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. Stockholders of record on Friday, March 14th will be issued a $0.40 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Insider Transactions at RenaissanceRe

In other 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 transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RNR shares. 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 report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $279.90.

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.