RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC trimmed its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,229 shares of the insurance provider’s stock after selling 6,050 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.33% of RenaissanceRe worth $42,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc boosted its holdings in shares of RenaissanceRe by 5.7% in the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider’s stock valued at $323,003,000 after acquiring an additional 69,884 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of RenaissanceRe by 518.0% in the fourth quarter. Quantinno Capital Management LP now owns 7,367 shares of the insurance provider’s stock valued at $1,833,000 after acquiring an additional 6,175 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $1,715,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RenaissanceRe by 1,458.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,950 shares of the insurance provider’s stock valued at $1,729,000 after acquiring an additional 6,504 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $378,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO James Christopher Fraser sold 332 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the transaction, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RNR shares. Morgan Stanley raised RenaissanceRe from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $275.00 in a report on Friday, April 25th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price target for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price target on RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $282.60.

RenaissanceRe Stock Performance

Shares of RNR opened at $246.29 on Friday. The company has a 50-day simple moving average of $240.05 and a 200-day simple moving average of $249.14. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.98 billion, a PE ratio of 7.03, a P/E/G ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.18 EPS. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, June 13th. RenaissanceRe’s dividend payout ratio is currently 5.10%.

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.