Smartleaf Asset Management LLC Boosts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Smartleaf Asset Management LLC increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 71.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156 shares of the insurance provider’s stock after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC’s holdings in RenaissanceRe were worth $39,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RNR. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 51.3% during 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 period. UMB Bank n.a. lifted its stake in shares of RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in RenaissanceRe during the 3rd quarter valued at about $45,000. ORG Wealth Partners LLC grew its position in RenaissanceRe by 129.4% during the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 141 shares during the last quarter. Finally, LRI Investments LLC increased its stake in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 214 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.8 %

Shares of NYSE:RNR opened at $239.53 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The firm has a market capitalization of $11.80 billion, a P/E ratio of 6.84, a P/E/G ratio of 2.09 and a beta of 0.38. The stock has a 50 day moving average price of $242.98 and a 200-day moving average price of $257.97.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is presently 4.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RNR shares. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average price target of $279.90.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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.