Stifel Financial Corp Sells 3,940 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Stifel Financial Corp lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,372 shares of the insurance provider's stock after selling 3,940 shares during the quarter. Stifel Financial Corp's holdings in RenaissanceRe were worth $2,332,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. Capital World Investors grew its holdings in RenaissanceRe by 8.8% during the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after purchasing an additional 233,708 shares during the last quarter. Boston Partners raised its holdings in RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after acquiring an additional 446,781 shares during the period. Impax Asset Management Group plc lifted its position in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after acquiring an additional 182,530 shares during the last quarter. Geode Capital Management LLC grew its position in shares of RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after purchasing an additional 223,991 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of RenaissanceRe by 5.1% in the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock worth $257,193,000 after purchasing an additional 49,804 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RNR shares. Barclays reduced their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their price objective 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. Morgan Stanley raised RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $235.00 to $275.00 in a report on Friday, April 25th. Keefe, Bruyette & Woods increased their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upgraded 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $282.60.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated 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 sale, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

RenaissanceRe Stock Up 0.7 %

Shares of NYSE RNR traded up $1.68 during mid-day trading on Friday, hitting $251.61. The company had a trading volume of 224,384 shares, compared to its average volume of 424,724. The firm has a 50-day simple moving average of $239.73 and a two-hundred day simple moving average of $250.21. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. 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 company has a market capitalization of $12.24 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced 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). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm earned $12.18 EPS. RenaissanceRe's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.64%. RenaissanceRe's dividend payout ratio (DPR) is 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.