Envestnet Asset Management Inc. Lowers Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Envestnet Asset Management Inc. trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,696 shares of the insurance provider's stock after selling 14,549 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of RenaissanceRe worth $26,547,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB increased 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 acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp raised its holdings 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 acquiring an additional 127 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of RenaissanceRe by 71.4% during the 4th 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 during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of RenaissanceRe by 40.0% in the fourth 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 period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RNR. Bank of America dropped their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company lowered their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays decreased their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group dropped their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Two 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, RenaissanceRe currently has an average rating of "Hold" and a consensus price target of $280.80.

RenaissanceRe Stock Up 1.4 %

NYSE:RNR traded up $3.24 during trading hours on Friday, hitting $241.09. The company's stock had a trading volume of 429,115 shares, compared to its average volume of 417,754. The stock has a fifty day moving average of $237.11 and a 200-day moving average of $253.69. The stock has a market capitalization of $11.81 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate 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 forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is currently 4.57%.

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.