Venturi Wealth Management LLC Acquires 968 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Venturi Wealth Management LLC lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2,420.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,008 shares of the insurance provider’s stock after purchasing an additional 968 shares during the quarter. Venturi Wealth Management LLC’s holdings in RenaissanceRe were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RNR. Rockefeller Capital Management L.P. bought a new stake in RenaissanceRe in the 3rd quarter valued at about $3,684,000. Fisher Asset Management LLC raised its stake in RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after acquiring an additional 8,844 shares during the period. Geode Capital Management LLC raised its stake in RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after acquiring an additional 25,773 shares during the period. Citigroup Inc. raised its stake in RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after acquiring an additional 23,956 shares during the period. Finally, HighTower Advisors LLC raised its stake in RenaissanceRe by 47.8% in the 3rd quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after acquiring an additional 3,954 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred 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 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. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Down 1.0 %

Shares of NYSE RNR opened at $226.53 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month 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 firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 2.10 and a beta of 0.43. The business has a 50-day moving average of $245.82 and a 200-day moving average of $257.72.

RenaissanceRe (NYSE:RNR) last issued 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%. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RNR shares. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Finally, Barclays lowered 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 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.