Martingale Asset Management L P Sells 3,965 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Martingale Asset Management L P lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,643 shares of the insurance provider's stock after selling 3,965 shares during the quarter. Martingale Asset Management L P owned approximately 0.15% of RenaissanceRe worth $18,821,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $173,530,000. Boston Partners raised its position in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after acquiring an additional 446,781 shares in the last quarter. Geode Capital Management LLC lifted its stake in RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after acquiring an additional 223,991 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of RenaissanceRe by 13.0% in the 4th quarter. Invesco Ltd. now owns 821,111 shares of the insurance provider's stock valued at $204,301,000 after purchasing an additional 94,389 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

NYSE RNR traded up $2.60 during midday trading on Monday, hitting $240.61. The company had a trading volume of 51,016 shares, compared to its average volume of 537,706. The firm has a 50-day moving average price of $236.93 and a 200-day moving average price of $254.34. The company has a market capitalization of $11.79 billion, a PE ratio of 6.87, a P/E/G ratio of 2.09 and a beta of 0.29. 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 twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on RNR. Bank of America dropped their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods decreased their price objective on shares of 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 cut their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $280.80.

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 stock was 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 owns 79,392 shares of the company's stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

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.