Whittier Trust Co. Has $6.40 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Whittier Trust Co. boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,706 shares of the insurance provider’s stock after buying an additional 994 shares during the quarter. Whittier Trust Co.’s holdings in RenaissanceRe were worth $6,396,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its position in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its position in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in RenaissanceRe during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Down 1.8 %

Shares of RNR stock opened at $236.07 on Friday. 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 stock has a market cap of $11.63 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The stock has a 50 day simple moving average of $241.28 and a 200 day simple moving average of $257.20. 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 quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) 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%. On average, research analysts predict 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. Shareholders of record on Friday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.68%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on 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 represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $279.90.

RenaissanceRe Company 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.