Royce & Associates LP Increases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Royce & Associates LP lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,196 shares of the insurance provider’s stock after acquiring an additional 1,136 shares during the quarter. Royce & Associates LP owned 0.22% of RenaissanceRe worth $28,662,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of RenaissanceRe during the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 1.4 %

Shares of RenaissanceRe stock opened at $239.63 on Monday. The company has a fifty day moving average price of $242.19 and a 200 day moving average price of $257.65. 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 twelve month low of $208.98 and a twelve month high of $300.00. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating 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 research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. 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 Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction 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 trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

RNR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Wells Fargo & Company lowered their price objective 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $279.90.

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.