Delphi Management Inc. MA Trims Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Delphi Management Inc. MA reduced its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,812 shares of the insurance provider’s stock after selling 212 shares during the quarter. Delphi Management Inc. MA’s holdings in RenaissanceRe were worth $1,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after acquiring an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of RenaissanceRe in the 3rd quarter worth approximately $3,684,000. Fisher Asset Management LLC grew its stake in shares of RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after buying an additional 8,844 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after purchasing an additional 23,956 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on RNR shares. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, 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 report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $279.90.

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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $245.35 on Tuesday. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. 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 business has a fifty day moving average of $242.13 and a 200 day moving average of $257.56. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business 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 an increase from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) 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.