Davis Selected Advisers Purchases 1,099 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Davis Selected Advisers grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,313 shares of the insurance provider's stock after purchasing an additional 1,099 shares during the period. Davis Selected Advisers owned about 0.27% of RenaissanceRe worth $35,409,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe in the 4th quarter worth 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 worth $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 127 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

RNR has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased their price target 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. Jefferies Financial Group reiterated a "hold" rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Barclays downgraded RenaissanceRe from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $279.90.

Insider Buying and Selling at RenaissanceRe

In related 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 sale, the executive vice president now directly owns 79,392 shares of the company's stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company's stock.

RenaissanceRe Stock Performance

Shares of NYSE:RNR traded down $4.28 during midday trading on Wednesday, reaching $235.14. 461,190 shares of the company traded hands, compared to its average volume of 541,397. The firm's fifty day moving average price is $242.98 and its two-hundred day moving average price is $257.97. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 6.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. 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 announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) 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%. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe's dividend payout ratio is currently 4.57%.

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.