Vanguard Group Inc. Buys 3,097 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Vanguard Group Inc. grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,427,756 shares of the insurance provider’s stock after acquiring an additional 3,097 shares during the period. Vanguard Group Inc. owned 10.45% of RenaissanceRe worth $1,350,480,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RNR. SBI Securities Co. Ltd. bought a new position in RenaissanceRe in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after buying an additional 41 shares during the period. 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 buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in RenaissanceRe by 71.4% during the 4th 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 period. Finally, UMB Bank n.a. grew its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

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 transaction, the executive vice president now 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 document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Jefferies Financial Group reiterated 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. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Morgan Stanley lowered their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $283.40.

RenaissanceRe Trading Up 1.0 %

Shares of RenaissanceRe stock opened at $246.78 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a fifty day moving average of $240.06 and a 200 day moving average of $256.63. The company has a market capitalization of $12.15 billion, a P/E ratio of 7.05, a P/E/G ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last released its 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, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

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.