Caprock Group LLC Lowers Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Caprock Group LLC trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979 shares of the insurance provider’s stock after selling 44 shares during the period. Caprock Group LLC’s holdings in RenaissanceRe were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its position in RenaissanceRe by 105.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 18,634 shares of the insurance provider’s stock valued at $4,636,000 after purchasing an additional 9,560 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of RenaissanceRe by 8.7% in the fourth quarter. Perigon Wealth Management LLC now owns 1,046 shares of the insurance provider’s stock worth $269,000 after buying an additional 84 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in RenaissanceRe by 29.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 981 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 222 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of RenaissanceRe by 1.2% during the fourth quarter. Pacer Advisors Inc. now owns 7,741 shares of the insurance provider’s stock worth $1,926,000 after purchasing an additional 95 shares during the period. Finally, KBC Group NV lifted its stake in RenaissanceRe by 934.9% during the 4th quarter. KBC Group NV now owns 14,095 shares of the insurance provider’s stock valued at $3,507,000 after acquiring an additional 12,733 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of recent research reports. Bank of America upped their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. 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 report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $279.90.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $240.59 on Friday. The stock has a market cap of $12.50 billion, a PE ratio of 6.87, a P/E/G ratio of 1.65 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The stock has a fifty day simple moving average of $255.99 and a 200-day simple moving average of $257.38. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 33.43 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

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.