Bank of Montreal Can Sells 2,030 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bank of Montreal Can trimmed its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,519 shares of the insurance provider's stock after selling 2,030 shares during the quarter. Bank of Montreal Can owned about 0.08% of RenaissanceRe worth $10,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of RenaissanceRe during the fourth quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of RenaissanceRe by 51.3% in the 4th 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 during the last quarter. Jones Financial Companies Lllp grew its position in shares of RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after buying an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Up 1.4 %

RNR stock traded up $3.24 during mid-day trading on Friday, hitting $241.09. 429,115 shares of the company were exchanged, compared to its average volume of 417,754. The firm has a market cap of $11.81 billion, a P/E ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. 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's 50 day simple moving average is $237.11 and its 200 day simple moving average is $253.69.

RenaissanceRe (NYSE:RNR - Get Free Report) 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%. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.40 per share. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe's dividend payout ratio is presently 4.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on RNR. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Finally, Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $280.80.

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.