Assetmark Inc. lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,542 shares of the insurance provider's stock after selling 4,464 shares during the quarter. Assetmark Inc. owned approximately 0.15% of RenaissanceRe worth $19,044,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after acquiring an additional 182,530 shares during the period. Geode Capital Management LLC raised its position in shares of RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock valued at $250,892,000 after purchasing an additional 25,773 shares during the period. Nepsis Inc. boosted its holdings in RenaissanceRe by 32.9% in the 4th quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider's stock worth $32,092,000 after buying an additional 31,915 shares during the period. Fisher Asset Management LLC grew its stake in RenaissanceRe by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 83,483 shares of the insurance provider's stock valued at $20,771,000 after buying an additional 2,710 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in RenaissanceRe during the 3rd quarter valued at $18,969,000. Hedge funds and other institutional investors own 99.97% of the company's stock.
RenaissanceRe Price Performance
Shares of RNR traded down $2.19 during midday trading on Monday, reaching $241.63. The stock had a trading volume of 592,464 shares, compared to its average volume of 384,846. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company's 50-day moving average is $243.31 and its 200 day moving average is $258.10. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.
RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.
RenaissanceRe Increases Dividend
The firm also recently declared 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. This represents a $1.60 annualized dividend and a yield of 0.66%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 4.57%.
Insider Transactions at RenaissanceRe
In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 79,392 shares of the company's stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on RNR. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Jefferies Financial Group reissued a "hold" rating and issued a $282.00 price target (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 lowered their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $279.90.
Check Out Our Latest Research Report on RNR
About RenaissanceRe
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Free Report)
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.
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