Great Lakes Advisors LLC Sells 25,216 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Great Lakes Advisors LLC trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 218,735 shares of the insurance provider's stock after selling 25,216 shares during the period. Great Lakes Advisors LLC owned about 0.42% of RenaissanceRe worth $54,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock valued at $461,679,000 after acquiring an additional 415,366 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $18,969,000. Northwest & Ethical Investments L.P. bought a new stake in shares of RenaissanceRe during the third quarter worth approximately $17,086,000. World Investment Advisors LLC acquired a new position in RenaissanceRe in the third quarter valued at approximately $16,176,000. Finally, Raymond James Financial Inc. bought a new position in RenaissanceRe in the fourth quarter valued at approximately $8,498,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RNR. Keefe, Bruyette & Woods dropped their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research report on Tuesday, February 4th. Barclays lowered RenaissanceRe from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company lowered their price target on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $279.90.

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Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction 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 $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RNR opened at $239.53 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The firm's 50 day moving average price is $242.98 and its two-hundred day moving average price is $257.97. The firm has a market cap of $11.80 billion, a P/E ratio of 6.84, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data 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%. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. RenaissanceRe's dividend payout ratio (DPR) is 4.57%.

RenaissanceRe Company 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.

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