RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,167 shares of the insurance provider’s stock after purchasing an additional 184 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in RenaissanceRe were worth $1,286,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Boston Partners lifted its stake in RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after acquiring an additional 446,781 shares during the period. Impax Asset Management Group plc lifted its position in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the period. Geode Capital Management LLC boosted its holdings in RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Norges Bank acquired a new stake in RenaissanceRe during the 4th quarter worth about $173,530,000. Finally, Sei Investments Co. raised its stake in shares of RenaissanceRe by 19.5% during the 4th quarter. Sei Investments Co. now owns 183,835 shares of the insurance provider’s stock valued at $45,744,000 after buying an additional 29,974 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America lowered their target price on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays cut 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. Two research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $283.40.

RenaissanceRe Stock Down 1.7 %

Shares of NYSE RNR opened at $242.46 on Monday. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company’s 50-day simple moving average is $239.76 and its 200-day simple moving average is $256.53. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed 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 an increase from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.57%.

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.