RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,421 shares of the insurance provider's stock after selling 2,535 shares during the period. Westwood Holdings Group Inc. owned 0.15% of RenaissanceRe worth $19,263,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB raised its position 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 last quarter. Jones Financial Companies Lllp raised its position in shares of RenaissanceRe by 1,587.5% in the fourth 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. Finally, Smartleaf Asset Management LLC raised its position in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Barclays cut their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of "Hold" and a consensus price target of $283.60.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the transaction, the chief accounting officer now owns 27,154 shares in the company, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.

RenaissanceRe Stock Up 0.7%

RenaissanceRe stock opened at $247.80 on Tuesday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. 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 firm has a 50 day moving average price of $240.30 and a 200 day moving average price of $248.81. The company has a market capitalization of $12.06 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.18 earnings per share. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.