13,500 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,500 shares of the insurance provider's stock, valued at approximately $3,359,000.

Several other hedge funds also recently added to or reduced their stakes in RNR. Impax Asset Management Group plc lifted its holdings in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in RenaissanceRe in the third quarter valued at approximately $3,684,000. Fisher Asset Management LLC boosted its holdings in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock valued at $22,003,000 after acquiring an additional 8,844 shares during the period. Geode Capital Management LLC grew its position in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock worth $250,892,000 after acquiring an additional 25,773 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider's stock valued at $8,302,000 after acquiring an additional 23,956 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RNR. Jefferies Financial Group reiterated a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. 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. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Finally, Morgan Stanley dropped their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and a consensus price target of $283.40.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock traded down $4.27 during trading on Friday, reaching $242.46. The company's stock had a trading volume of 269,503 shares, compared to its average volume of 407,716. The business has a 50 day moving average price of $239.76 and a 200-day moving average price of $256.53. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a market capitalization of $11.88 billion, a P/E ratio of 6.92, 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 (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 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%. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 4.57%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

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.