12,213 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Bought by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,213 shares of the insurance provider's stock, valued at approximately $3,039,000.

Other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe in the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB lifted 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 valued at $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $45,000. Institutional investors own 99.97% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays lowered shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Finally, Morgan Stanley decreased their price target on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $279.90.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Down 0.1 %

NYSE RNR traded down $0.25 on Tuesday, reaching $239.44. 458,020 shares of the stock traded hands, compared to its average volume of 393,021. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 2.09 and a beta of 0.38. The company has a fifty day moving average price of $240.74 and a 200-day moving average price of $256.92. 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 (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 0.67%. RenaissanceRe's 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.