Westwood Holdings Group Inc. Boosts Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Westwood Holdings Group Inc. increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,593 shares of the insurance provider’s stock after purchasing an additional 2,727 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.11% of RenaissanceRe worth $12,873,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in RenaissanceRe by 24.6% during the 4th quarter. BNP Paribas Financial Markets now owns 8,627 shares of the insurance provider’s stock worth $1,691,000 after acquiring an additional 1,704 shares during the period. Assetmark Inc. boosted its stake in RenaissanceRe by 111,240.0% in the 4th quarter. Assetmark Inc. now owns 5,567 shares of the insurance provider’s stock worth $1,091,000 after purchasing an additional 5,562 shares during the period. Orion Portfolio Solutions LLC grew its stake in RenaissanceRe by 204.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,772 shares of the insurance provider’s stock valued at $1,170,000 after acquiring an additional 3,879 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of RenaissanceRe by 7.9% in the fourth quarter. Intech Investment Management LLC now owns 5,197 shares of the insurance provider’s stock worth $1,019,000 after purchasing an additional 379 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its position in shares of RenaissanceRe by 2.8% in the fourth quarter. Hilltop Holdings Inc. now owns 13,164 shares of the insurance provider’s stock worth $2,580,000 after buying an additional 353 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the executive vice president now directly owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Up 1.0 %

Shares of NYSE RNR opened at $263.67 on Friday. The stock has a market capitalization of $13.75 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $268.61. The stock’s fifty day simple moving average is $242.87 and its two-hundred day simple moving average is $231.32.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, topping the consensus estimate of $10.88 by $1.53. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RNR shares. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group decreased their target price on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Barclays assumed coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective for the company. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Morgan Stanley decreased their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $272.60.

RenaissanceRe Company 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.