State of Alaska Department of Revenue Sells 135 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

State of Alaska Department of Revenue decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,924 shares of the insurance provider’s stock after selling 135 shares during the period. State of Alaska Department of Revenue’s holdings in RenaissanceRe were worth $1,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RNR. ORG Wealth Partners LLC bought a new position in RenaissanceRe in the 3rd quarter worth $30,000. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 purchasing an additional 41 shares in the last quarter. UMB Bank n.a. grew its position in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in RenaissanceRe in the third quarter worth about $45,000. Finally, V Square Quantitative Management LLC raised its stake in shares of RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Wells Fargo & Company decreased their target price 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. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $279.90.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Down 1.7 %

RNR opened at $230.93 on Thursday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43. The stock has a market capitalization of $11.99 billion, a PE ratio of 6.59, a P/E/G ratio of 1.91 and a beta of 0.43. The firm’s fifty day moving average price is $251.89 and its 200 day moving average price is $257.91.

RenaissanceRe (NYSE:RNR) last issued 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 net margin of 15.99% and a return on equity of 23.41%. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 29.92 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

RenaissanceRe 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.