Stifel Financial Corp Reduces Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Stifel Financial Corp lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 29.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in RenaissanceRe during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted 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 valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its stake in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 65 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Jefferies Financial Group dropped their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Barclays lowered their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Bank of America reduced their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $282.60.

RenaissanceRe Trading Up 0.7 %

RenaissanceRe stock traded up $1.68 during midday trading on Friday, hitting $251.61. 277,731 shares of the stock were exchanged, compared to its average volume of 426,785. The company has a fifty day simple moving average of $239.86 and a two-hundred day simple moving average of $249.87. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week 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 stock has a market capitalization of $12.24 billion, a PE ratio of 7.18, a P/E/G ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data 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). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the business earned $12.18 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's payout ratio is currently 5.10%.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the firm'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 transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.