Silvercrest Asset Management Group LLC lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,229 shares of the insurance provider's stock after selling 6,050 shares during the period. Silvercrest Asset Management Group LLC owned about 0.33% of RenaissanceRe worth $42,852,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in RenaissanceRe during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe in the 4th quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on RNR. Keefe, Bruyette & Woods lifted their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Barclays dropped their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Bank of America decreased their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $283.60.
Check Out Our Latest Stock Analysis on RNR
Insider Transactions at RenaissanceRe
In other news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.
RenaissanceRe Trading Down 0.6%
Shares of RNR stock traded down $1.53 during mid-day trading on Tuesday, reaching $246.57. The company's stock had a trading volume of 269,413 shares, compared to its average volume of 429,597. The company's 50 day simple moving average is $240.30 and its 200-day simple moving average is $248.81. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. 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 firm has a market capitalization of $12.00 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.
RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for 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%. RenaissanceRe's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.18 earnings per share. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.
RenaissanceRe Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio is currently 5.10%.
About RenaissanceRe
(
Free Report)
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.
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