SBI Securities Co. Ltd. Buys Shares of 116 RenaissanceRe Holdings Ltd. (NYSE:RNR)

SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 116 shares of the insurance provider’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RNR. MassMutual Private Wealth & Trust FSB increased its holdings 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 last quarter. Jones Financial Companies Lllp increased its holdings in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after buying an additional 65 shares during the last quarter. UMB Bank n.a. increased its holdings in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in RenaissanceRe during the third quarter valued at approximately $45,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $279.90.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $235.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day moving average price of $242.71 and a 200 day moving average price of $257.81. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 6.71, a P/E/G ratio of 2.09 and a beta of 0.38.

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

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given 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 0.68%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is 4.57%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

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.