Impax Asset Management Group plc Has $466.97 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Impax Asset Management Group plc raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,880,166 shares of the insurance provider's stock after purchasing an additional 182,530 shares during the period. RenaissanceRe accounts for about 2.1% of Impax Asset Management Group plc's holdings, making the stock its 7th biggest position. Impax Asset Management Group plc owned 3.62% of RenaissanceRe worth $466,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares in the last quarter. UMB Bank n.a. lifted 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 worth $44,000 after buying an additional 50 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of RenaissanceRe in the third quarter valued at approximately $45,000. ORG Wealth Partners LLC grew its stake in RenaissanceRe by 129.4% during the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider's stock valued at $62,000 after acquiring an additional 141 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in RenaissanceRe by 668.8% during the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider's stock worth $63,000 after acquiring an additional 214 shares during the period. Institutional investors own 99.97% of the company's stock.

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Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business's 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 sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on RNR. 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. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price target on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. Two equities research 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. According to MarketBeat, RenaissanceRe currently has an average rating of "Hold" and a consensus price target of $279.90.

RenaissanceRe Price Performance

Shares of RNR stock traded up $2.71 during trading hours on Thursday, hitting $233.87. 418,792 shares of the company's stock were exchanged, compared to its average volume of 534,821. The company has a market capitalization of $11.52 billion, a PE ratio of 6.68, a PEG ratio of 2.09 and a beta of 0.43. 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 Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The business's 50 day simple moving average is $244.23 and its 200-day simple moving average is $257.73.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 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 research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. 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.