Waverton Investment Management Ltd Sells 120 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Waverton Investment Management Ltd lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,165 shares of the insurance provider’s stock after selling 120 shares during the period. Waverton Investment Management Ltd owned 0.08% of RenaissanceRe worth $10,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Impax Asset Management Group plc lifted its position in RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares in the last quarter. Nepsis Inc. lifted its position in shares of RenaissanceRe by 32.9% during the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock worth $32,092,000 after purchasing an additional 31,915 shares in the last quarter. Assetmark Inc. grew its stake in shares of RenaissanceRe by 115.3% during the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after purchasing an additional 43,384 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of RenaissanceRe by 12.3% in the third 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 in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RNR shares. Keefe, Bruyette & Woods reduced their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Price Performance

RNR opened at $226.53 on Monday. The company has a fifty day simple moving average of $245.82 and a 200 day simple moving average of $258.14. 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 stock has a market cap of $11.16 billion, a P/E ratio of 6.47, a P/E/G ratio of 2.09 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00.

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 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%. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s 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 sale, the executive vice president now directly owns 79,392 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

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.